BAKU, Azerbaijan, Mar. 3
By Maryana Akhmedova – Trend:
Georgia may expect decrease in trade turnover with Russia, and Ukraine by total of 12-13 percent due to the imposed economic sanctions on Russia and the escalating situation in Ukraine, the Head of the Research Department at the Galt & Taggart investment bank, Eva Bochorishvili, said, Trend reports via Georgian media.
For example, Georgia is quite dependent on imports from Russia, especially regarding wheat and oil, Bochorishvili said.
Georgia’s wheat imports from Russia in January 2022 amounted to 11,396 tons worth $3.5 million, while the total wheat imports amounted to $3.6 million.
As for the trade with Ukraine, the country ranks among main Georgia’s destinations of re-export of cars. Georgia’s cars re-export to Ukraine in January 2022 amounted to $3.8 million. However, the figure decreased by 26.9 percent year-on-year.
“It is difficult to anticipate, if there are delays in trade links due to uncertainty on the global market, and the general price increase, however, the decrease in trade with Russia and Ukraine is quite likely,” Bochorishvili added.
---
Follow the author on Twitter: @mariiiakhm