Georgia's Service Exports Hit Record USD 7.7 Billion in 2024

According to data from the National Statistics Office, Georgia's service exports reached USD 7.7 billion in 2024, marking a 9.1% rise compared to the previous year.

Imports of services also rose, reaching USD 3.8 billion, up 5.4% year-on-year. As a result, the positive trade balance in services expanded by 13%, totaling USD 3.89 billion, The Caspian Post reports citing foreign media.

The travel sector reclaimed its dominant position among service exports, generating USD 4.43 billion and accounting for 57.4% of Georgia’s total service exports. Transport services ranked second with USD 1.72 billion (22.3%), followed by telecommunications, computer and information services which reached USD 842.3 million (10.9%).

On the import side, transport services also topped the list, totaling USD 2.27 billion and comprising 59.4% of all service imports. Travel services followed with USD 485.9 million (12.7%) while other business services ranked third at USD 285.7 million (7.5%).

Trade in services remained concentrated among main partners. The top ten export destinations accounted for 57.6% of Georgia’s total service exports, led by Russia (USD 985.7 million), Türkiye (USD 980 million) and Israel (USD 515 million).

Similarly, the top ten import partners represented 51.2% of total service imports. The United States was the largest source with USD 413.4 million, followed by Türkiye (USD 351.6 million) and China (USD 322.2 million).