Web-site is in update mode
 

 

Ministry of Foreign Affairs of Georgia

 




Georgia - Europe Started Here

Georgia - General Economic Overview 2015

Main Macroeconomic Data of Georgia:

·GDP

In 2014 GDP growth rate was 4.8% (Nominal GDP USD 16.5 bln.);  

       GDP Structure:  17.4 % - Trade, 17,1 % - Industry, 10.5 % - Transport and Communication,  9.9 % - Public Administration, 9.2 % - Agriculture, forestry and fishing, 7.3 % - Construction, 6 % - Real estate, Renting and Business Activities, 22.5 % - Other Sectors.

January-April, 2015

The estimated real GDP growth rate amounted to 0.9 percent y-o-y in April 2015. The estimated real GDP growth reached 3.2 percent for Q1 2015 and 2.6 percent for the first four months of 2015 y-o-y.

·FDI in 2014 amounted to 1.272 bln.USD (35% increases from 2013).

      By origin: EU – 50%, CIS – 28%, Other countries – 22%

      By Sectors: Transport and Comunication-27%, Construction-23%, Manufacturing-13%, Energy-8%, Real estate-7%, Financial sector-6%, Other-16%.

·Trade Turnover in 2014 - 11.457 bln. USD, Growth 5%; Change (y-o-y):  EU- 4% increase, CIS - 5% decrease.

      In January-April, 2015 trade turnover decreased by 13% compared to the same period of 2014 and amounted to 3.015 bln. USD. EU – 7% decrease (28 % of total turnover), CIS – 24% decrease (30 % of total turnover).

· Export in 2014 - 2.86 bln. USD, Decrease 2% (47 mln. USD); Change ( y-o-y):  EU- 2% increase, CIS – 10% decrease;

      In January-April 2015 export decreased by 26% compared to the same period of 2014 and amounted 689 million USD. EU - 6% increase (30% of total export), CIS – 51% decrease (36% of total export);

· Import in 2014 - 8.6 bln. USD, Growth 7% (570 mln. USD); Change (y-o-y):  EU - 4% increase, CIS – 2% decrease.

       In January-April 2015 import decreased by 8 % compared to the same period of 2014 and amounted 2.326 billion USD. EU - 10% decrease (27% of total import), CIS – 3 % decrease (28% of total import)

·Tourism - 5 515 559 visitors. Growth 2%;

       In January-May 2015 were 1 835 545 visitors, 2% growth compared to same period of 2014.

·Unemployment

In 2013 the unemployment rate in Georgia was 14.6%;

In 2014 the annual unemployment rate in Georgia declined by 2.2 percentage points and equaled 12.4 percent.

·Inflation annual average rate in 2014 was 3.1%; In May 2015 the monthly inflation rate (Over April 2015) was 0.6% and the annual inflation rate (Over May 2014) equalled 3.5%;

·Government Budget in 2014 was set at 9.08 billion GEL; for 2015 is set at GEL 9.58 Billion GEL.

·Budget Deficit to GDP was at 3.2%; for 2015 Budget deficit to GDP is projected at 3%;

· Total Public Debt to nominal GDP was 35.5%; For 2015 Total Public Debt to nominal GDP is projected 35%;

 

Ratings and Rankings

World Bank’s “Doing Business 2015” – “EASE OF DOING BUSINESS” ranks Georgia – 15th out of 189 countries;

-The Heritage Foundation (2014) – “INDEX OF ECONOMIC FREEDOM” ranks Georgia – 22th out of 178 countries;

-Transparency International (2014): “Global Corruption Perception Index” ranks Georgia – 50th out of 175 countries;

-Forbes: “Best Countries for Business 2014” ranks Georgia – 47th out of 146 countries;

-Moody’s: Ba3 Positive;

-Fitch: BB- Stable;

-Standard and Poor’s: BB- Stable;

-The Global Competitiveness Report 2014-15: Georgia Ranks 69 out of 144 countries.

 

·Top trading partners of Georgia by turnover in 2014

1.Turkey – 17.2%

2.Azerbaijan – 10.3%

3.Russia – 7.4%

4.China – 7.2%

5.Ukraine – 6%

6.Germany – 4.7%

7.Armenia – 4.4%

8.USA – 4.3%

 

Top Investor Countries of Georgia in 2014 (by source of FDI) 

1.Netherlands – USD 331 mln.

2.Azerbaijan – USD 302 mln.

3.China – USD 195 mln.

4.United Kingdom – USD 114 mln.

5.Luxemburg – USD 85 mln.

6.USA – USD 80 mln.

7.Turkey – USD 67 mln.

8.Russia – USD 66 mln.

9.Panama – USD 61 mln.

10.Malta – USD 38 mln.

 

Top Investor Companies in Georgia

·British Petroleum  - South Caucasus pipeline expansion project (SCPX);

·„Achar Energy 2007“ ltd (Turkey) – HP Construction;

·„Clean Energy Invest“/“Tata Group“ (Norway/ India) - HP Construction;

· „Georgian Urban Energy“ (Turkey, Anadolu Group) - HP Construction;

· „K Water“ (Republic of Korea) – Neskra HP Construction;

· HUALING GROUP (China).

 

Investments by Sectors

In 2014 (preliminary data) FDI amounted to 1272 mln. USD (35% increase compared to 2013).

-Transport and Comunication-27%,

-Construction-23%,

-Manufacturing-13%,

-Energy-8%,

-Real estate-7%,

-Financial sector-6%,

-Other-16%.

Georgia-EU Economic Relations

Trade

 2014

-Trade turnover increased by 4% and reached USD 2.99 bln. USD.

-Export to the EU increased by 2% and reached 621 mln. USD. (22% of total Georgian export).

-Import from the EU increased by 4% and amounted to 2.37 bln. USD. (28% of total import).

 January-April 2015 

-Trade turnover increased by 7 % to compare with the same period of 2014 and has amounted 838 million USD (28 % of total turnover);

-Export to the EU increased by 6 % to compare with the same period of 2014 and amounted has amounted 206 mln. USD (30% of total export);

-Import from EU decreased by 10 % to compare with the same period of 2014 and amounted 632 million USD (27 % of total import);

Investment

In 2014 total investments from EU increased by 64% compare to 2013 and reached 640.5 mln. USD and amounted 50% of total annual investments (In 2013 was 390.7 mln. USD. - according to the GeoStat).

Main sectors were – Manufacturing, Energy, Transport and Communication, Real Estate, Construction, Financial Sector, Mining, Agriculture and Fisheries.

 

 
 
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31        

დიასპორის სტრატეგია

 

 

საქართველო საერთაშორისო რეიტინგებში

 

 

 
Copyright © 2005-2009 Ministry of Foreign Affairs of Georgia. All rights reserved.
Created by ITDC