Turkey continues to play a pivotal role in Georgia’s economic landscape, with close ties across trade, investment, remittances, and tourism. However, 2025 data reveals a mix of growth and decline across various sectors, highlighting evolving dynamics in the bilateral relationship.
Turkish Foreign Direct Investment (FDI) in Georgia has shown fluctuations in recent years. Following a record high of $256 million in 2017, the volume of investments has generally declined. In 2024, Turkey invested $93.2 million, marking a decrease from $109.5 million in 2023.
The last five years of Turkish FDI in Georgia are as follows:
- 2024 – $93.2 million
- 2023 – $109.5 million
- 2022 – $102.7 million
- 2021 – $101.4 million
- 2020 – $80.2 million
In the first quarter of 2025, Turkey ranked third among investor countries, behind the Czech Republic and the United States, with a total investment of $28.1 million, down from $53.2 million in Q1 2024.
Remittance flows from Turkey have seen minor changes. In 2024, Turkey ranked eighth among countries sending remittances to Georgia, with a total of $101.5 million, a decline from $114 million in 2023.
However, during the first five months of 2025, there was a 6.3% increase, with $42.35 million transferred from Turkey to Georgia compared to the same period in 2024.
Turkey remains Georgia’s top trading partner. In 2024, trade turnover exceeded $3.23 billion, accounting for 13.8% of Georgia’s total trade. However, Georgia continues to have a negative trade balance with Turkey, mainly due to high import volumes.
2024 Import Highlights from Turkey:
- Packaged medicines – $169.7 million (4,782 tons)
- Oil and oil products – $77.1 million (75,868 tons)
- Ferrous metal structures – $71.4 million
- Ferrous metal pipes – $66.5 million
- Passenger cars – $64.2 million
Exports to Turkey in 2024 totaled $458 million, a 12% increase year-on-year. The main exports included:
- Ferroalloys – $144.5 million
- Knitwear (T-shirts, suits) – $94.7 million combined
- Electricity – $32.3 million
- Aluminum scrap – $14.9 million
2025 (January–May):
- Trade turnover declined by nearly 4%, reaching $1.21 billion.
- Exports to Turkey: $136.1 million (–22.2% YoY)
- Imports from Turkey: $1.075 billion (–1% YoY), mainly due to decreased medicine imports.
Tourism from Turkey has historically been strong, though recent years have seen a downward trend. In 2024, Georgia welcomed 1,336,834 visitors from Turkey, a 4.2% decrease compared to 2023.
In the first six months of 2025, Turkish arrivals dropped by 14.5%, totaling 533,614 visits. While Turkey remains in the top tier of visitor countries, the decline suggests possible shifts in travel trends, regulations, or economic factors.