"In the first quarter of 2022, compared to the same period last year, earnings received from re-exports of cars from Ukraine decreased by 66% and amounted to $ 7 million," - said Aleksi Noniadze, the founder of the Georgian Auto Importers' Association.
As he noted, compared to the same period in 2021, this year the decline in earnings is $ 13 million.
"In 2021, the country received a total revenue of $ 88 million from cars re-exported from Ukraine. Revenue for the first quarter of 2021 was $ 20 million. The industry is facing significant problems, because the loss of a large market like the one in Ukraine after the loss of the Armenian market is in fact one of the biggest blows to the sector," - explained Aleksi Noniadze.
According to Aleksi Noniadze, as the Ukrainian market is considered lost this year, due to the current situation in the region, the process of rearranging the markets is underway.
"Unfortunately, no one knows when the war in Ukraine will end. If it finishes tomorrow, it is likely that the process of restoring economic ties there will take a long time. The Kazakh market has become more active and has replaced Ukraine. In total, the Georgian economy has lost more than $ 88 million, because we also have neighboring industries, such as the used car market and auto services. Today, these sectors are also affected,” - Noniadze noted.
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One US dollar trades at GEL 2.7160
11/07/2025
