Georgia’s service exports surged in 2023, driven by travel and transport - Statistics Office

Georgia’s exports of services reached $7.05 billion in 2023, marking a 23.7 percent increase compared to 2022, while imports rose to $3.618 billion - up 19.5 percent from the year before, the National Statistics Office of the country said on Thursday.

Leading the figures in the country’s service exports was the travel sector, which reclaimed its top position with a total of $4.12 billion, comprising 58.5 percent of the overall service exports.

Transport services followed, generating $1.47 billion and accounting for 20.9 percent of total exports. Meanwhile, telecommunications, computer, and information services secured the third spot, standing at $892 million and constituting 12.6 percent of the total exports.

On the import side, transport services also topped the list, with imports amounting to $2.23 billion, which represented 61.7 percent of total imports. Travel services were the second-largest import category (13.9 percent of imports), while other business services rounded out the top three (6.4 percent of imports).

Russia emerged as the largest exporter to Georgia with $1.02 billion, followed closely by Turkey ($958.1mln) and the United States ($ 423.8mln).

When looking at imports, Russia also led as the largest importer (with $534.2mln), followed by Turkey ($521.4mln) and Azerbaijan ($206.9mln).