In the 8 months of 2023, Georgian wine worth more than $169.3 million was exported from Georgia, compared to the corresponding period of 2022, the export growth rate exceeds 15.6%. This year, 66% of wine was exported to Russia. In August, almost $5 million less wine was exported to Russia compared to August 2022. This affected the monthly exports as well, and the value of exported wine in total decreased by 25% in August.
The Transparency International-Georgia analyst Beso Namchavadze says that the decrease in Georgian wine exports to Russia in August may be related to the decrease in purchasing power.
"We don't know yet whether this will become a trend or not, but Georgian wine exports to Russia decreased in August. The reason for this may be that the economic situation there is already such that they can no longer buy much wine," – Namchavadze said.
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