Georgia’s Petroleum Product Exports Surge 700% in First Quarter of 2026
Tbilisi, Georgia – Georgia’s total exports reached $1.72 billion in the first quarter of 2026, representing a 23.4% increase compared to the same period last year, according to data released by Georgia’s National Statistics Office (Geostat) on April 20th. Passenger cars remained the primary export category, though their value decreased to $365 million, a 27% year-on-year decline. However, a significant rise was observed in oil and petroleum product exports, which climbed to $208 million – nearly seven times higher than the $26 million recorded in the first quarter of 2025.
Local exports also saw a substantial increase, particularly within the petroleum products sector, experiencing a surge of 3,714%. The Kulevi port, utilized for transporting crude oil and petroleum products from Russia, has been subject to scrutiny. While the EU removed the port from a list of potential sanctions in March 2026 following commitments from Georgia and the port operator, SOCAR, to comply with sanctions against Russia, concerns remain regarding its role in facilitating trade.
Approximately $200 million of petroleum product exports originated from domestic production, with re-exports accounting for $8 million. All crude oil imports during the quarter came from Russia, totaling $118 million. Georgia’s primary petroleum product export market is Togo, which became the largest destination in the first quarter of 2026, receiving $55.3 million worth of shipments.
Other key export markets included Turkey, China, Malta, Morocco, Singapore, the UAE, Libya, Cyprus, and Uzbekistan. Geostat reported a 23.6% decrease in Georgia’s overall foreign trade turnover in January 2026 compared to the previous year, and the US is no longer among Georgia’s top three trading partners. The EU’s decision not to sanction the Kulevi port followed assurances from Georgian authorities and SOCAR regarding adherence to sanctions against Russia, including the price cap on Russian oil and EU import bans.
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