Georgia records remarkable growth in oil imports from Azerbaijan

Georgia imported 51,544 tons of crude oil and petroleum products from Azerbaijan, valued at $41.81 million in the initial five months of 2024, Report informs, citing the National Statistics Office of Georgia.

The obtained data shows that this is a remarkable increase of five-fold in volume and four-fold in value compared to the corresponding period of 2023.

Azerbaijan now ranks as the 4th largest supplier of crude oil and petroleum products to Georgia.

In January-May of 2024, Georgia bought a total of 601,000 tons of crude oil and petroleum products worth $514 million from abroad. This marks a 17.2% increase in volume and a 29% increase in value compared to the previous year.

Other major oil suppliers to Georgia in the first five months of 2023 include Russia (275,000 tons worth $211 million), Bulgaria (69,000 tons worth $75 million), Romania (62,000 tons worth $53 million), and Greece (30,000 tons worth $30 million).