On February 16, Transparency International – TI Georgia released a report detailing Georgia's economic ties with Russia in 2023. 

In 2023, Georgia received USD 3.1 billion from Russia through remittances, tourism, and exports, a 13% decrease from 2022. These revenues constituted 10.3% of Georgia's GDP, down from 14.5% in 2022. The report highlights the significant presence of Russian businesses in Georgia, with 11,552 companies registered in 2023, marking a 3.6-fold increase since the beginning of the war in Ukraine in March 2022. As of December 31, 2023, up to 34,000 companies in Georgia were registered by Russians, primarily as sole proprietorships, indicating a long-term settlement trend.

Despite a 30% increase in Russian visitors to Georgia in 2023 compared to 2022, reaching 1.4 million, the figure remained 3.6% lower than pre-pandemic levels in 2019. Russian visitors accounted for 20.1% of total visitors in 2023, with a notable portion choosing to settle in Georgia, with 62,300 Russian citizens reported to have stayed in Georgia in 2022.

Remittances from Russia to Georgia totaled $1.5 billion in 2023, a 26% decrease from 2022 but a significant increase from 2021, attributed to the growing number of Russian migrants settling in Georgia. Georgia's trade turnover with Russia in 2023 decreased by 3% compared to 2022, totaling USD 2.4 billion. While Georgia's exports to Russia increased by 2.3% in 2023, Russia's share of total exports decreased slightly from 2022.

The export of Georgian wine remains highly dependent on the Russian market, with a 5% increase in exports to Russia in 2023, reaching USD 168 million. Russia accounted for 65% of total wine exports, the highest share since 2013. Imports from Russia decreased by 5% to USD 1.7 billion in 2023 compared to 2022 but increased significantly compared to 2021.

The report noted a decrease in imports of petroleum products from Russia in 2023, attributed to Russia's decision to halt gasoline exports and increased prices. However, natural gas imports from Russia increased by 15% compared to 2022, reaching 596 million cubic meters, constituting 20% of Georgia's domestic consumption.