Wine
Posted: 2 months ago

Georgian Wine Exports See Rise in Value Despite Drop in Volume

In 2023, Georgian wine has witnessed an increase in its export value, ranking it second among Georgia's export products. Official statistics reveal that in the first 11 months of 2023, Georgia exported 83.1 tons of wine valued at $239.3 million.

This marks a 3.2% rise in export value from the previous year, despite a 12.2% decrease in volume compared to the same period in 2022, which saw 94.7 tons of wine worth $231.9 million exported.

Russia remains the primary market for Georgian wine exports, accounting for 65.7% of the total. This year, Georgia sold wine worth $157.3 million in the Russian market. Other significant export markets include:

  • Russia: 58.2 tons valued at $157.3 million (65.8 tons, $149.9 million in the previous year)
  • Poland: 5.3 tons valued at $13.3 million (6.2 tons, $13.8 million)
  • Ukraine: 4.7 tons valued at $13.2 million (5.2 tons, $11.6 million)
  • China: 2.8 tons valued at $10.3 million (3.4 tons, $11.4 million)
  • Kazakhstan: 2.7 tons valued at $8.5 million (3.3 tons, $9.3 million)
  • Belarus: 2.6 tons valued at $7.5 million (2.5 tons, $6.2 million)
  • USA: 764 tons valued at $4.8 million (918 tons, $4.9 million)
  • Germany: 948 tons valued at $4.3 million (786 tons, $3.1 million)
  • Latvia: 1.06 tons valued at $3.6 million (1.5 tons, $4.1 million)
  • Lithuania: 627.8 tons valued at $850.3 thousand (726 tons, $1.9 million)

Notably, wine exports to Russia have been declining consecutively for four months post-August, after a consistent growth pattern from January to July 2023. The monthly decrease in exports after August is as follows:

  • August: $12.9 million (a decrease of 28.7%)
  • September: $16.9 million (a decrease of 11%)
  • October: $14.9 million (a decrease of 23.5%)
  • November: $13.4 million (a decrease of 35.8%)

In total, over these four months, wine exports to Russia saw a 24.9% decrease.