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Georgia's economic dependence on Russia remains high. Transparency International Georgia (TABLES)
Transparency International Georgia published a report on Georgia's economic dependence on the Russian Federation in 2023, which decreased to 2022 but "still significantly increased" compared to 2021.
According to TIG data, the decrease in economic dependence on Russia in 2023 was mainly caused by reduced remittances.
In 2023, Georgia received 3.1 billion dollars in income from the Russian Federation at the expense of remittances, tourism, and the export of goods, which is 13% less than the figure for 2022.
In 2023, revenues from the Russian Federation made up 10.3% of Georgia's economy (GDP), and in 2022 - 14.5%.
In 2023, Russian citizens registered 11,552 companies in Georgia. Since the beginning of the full-scale war in Ukraine, 26,339 companies have been registered. Since March 2022, 3.6 times more Russian companies have been registered in Georgia than in 1995-2021.
TIG reports that 96% of registered companies in 2022-2023 are private enterprises, indicating that some Russians moved to Georgia to live and do business for a long time.
In 2023, 1.4 million tourists arrived from Russia, 30% more than in 2022 and 3.6% less than in 2019.
The share of visitors from Russia in the total number of visitors increased slightly, from 20% to 20.1%.
According to the National Statistical Service data, in 2022, 62.3 thousand Russian Federation citizens remained in Georgia.
In 2023, 1.5 billion dollars were transferred from the Russian Federation, which is 26% less than in 2022 but 3.7 times higher than in 2021.
In 2023, the share of remittances from the Russian Federation in the total volume of remittances was 37%, which is 10.3% less than the figure of 2022.
In 2023, compared to 2022, Georgia's trade with the Russian Federation decreased by 3%, amounting to 2.4 billion dollars. The decrease in imports causes a reduction in product turnover.
In 2023, the export of Georgian products to the Russian Federation increased by 2.3% and amounted to 657 million dollars. Russia's share in Georgia's total exports was 10.8%, 0.7% less than in 2022.
TIG announces that in 2023, the export of non-alcoholic beverages from Georgia to the Russian Federation increased by 32 million dollars (36%).
As before, Georgian wine exports are highly dependent on the Russian market. In 2023, wine exports to the Russian Federation increased again by 5%, totaling 168 million dollars. The market accounts for 65% of Georgian wine exports, the highest figure since 2005.
In 2023, imports from the Russian Federation decreased by 5% and amounted to 1.7 billion dollars, but compared to 2021, they increased by 71%. Russia's share in total imports is 11.3%, 2.2% less than the 2022 figure.
In 2023, the import of oil products from the Russian Federation decreased by 70 million dollars (by 11%).
In 2023, compared to 2022, the import of natural gas from the Russian Federation increased by 15% and amounted to 596 million cubic meters (131 million dollars). The share of Russian gas has reached 20%.
