HomeNewsGeorgian exports still depended on Russia in 2022

Georgian exports still depended on Russia in 2022

Analysts at EastFruit note that Russia’s share in Georgian exports of fruits, nuts, and vegetables (HS07-08) in 2022 remained at the record-high level of the previous year.

Data source: Ministry of Finance of Georgia

2022 was not an easy year for Georgian horticulture; hence, we see a drop in annual exports. Revenues from the external trade in fruits, nuts, and vegetables have reduced from $230 million in 2021 to $190 million in 2022. Given a war in Ukraine, sanctions against the aggressor Russia, and many Russian citizens leaving their own country to avoid drafting into the army, it can be a bit surprising that Russia’s share in Georgian horticulture exports remained at the level of 2021.

TOP-10 exported fruits, nuts, and vegetables to Russia in 2022, $ million

Data source: Ministry of Finance of Georgia

Georgia’s ten most exported fruit, nut, and vegetable trade positions to Russia in 2022 constitute 88% of the group’s total exports to Russia. Interestingly, the TOP-10 in 2022 also dominates Georgia’s export to Russia historically.

Read also: Herb pastes of the “Georgian greens” brand will become available in Georgian and international markets in February

Since 2014, Georgia has exported horticulture produce worth $390 million to Russia, from which 83% is included in the TOP-10 products shown above.

Georgian exports of HS07-08 to Russia in 2022 amounted to $75 million, which is the second highest value, just $15 million lower than in 2021. The exports to Russia in 2014-2022 have been growing by $8 million a year on average. Georgian exports’ dependence on Russia came from two key factors:

  • Georgia has increased its horticulture export potential
  • Local farmers find it hard to get to western markets and choose the easier Russian market.

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