OREANDA-NEWS  According to the results of the first quarter of 2024, the trade turnover between Russia and Georgia decreased by 7 percent compared to the same period in 2023 and fell to almost $ 620 million in monetary terms. This is reported by TASS with reference to data from the National Statistics Service of the republic.

Despite a noticeable decline in January-March, Russia retained its status as Georgia's second largest trading partner. In the first quarter, the share of the Russian Federation in the structure of the republic's foreign trade amounted to a total of 13.2 percent.

At the same time, imports accounted for most of the bilateral trade. So, in the first three months of this year, Russia sent products worth more than $458 million to Georgia. In turn, the republic exported goods worth more than 160 million to the Russian Federation.

Turkey became Georgia's main trading partner in the first quarter, with a trade turnover of almost $722 million (plus 5.6 percent in annual terms). China closed the top three (over 330 million dollars, minus 12 percent).

One of the main types of Georgian products supplied to the Russian market is wine. By the end of January-February 2024, shipments increased by more than one and a half times and reached a level of about 13.2 thousand tons. The revenues of Georgian wine exporters from supplies to Russia increased more than fourfold year-on-year and amounted to a total of $35.9 million.