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Economy

Export Price Index Decreased by 1.8%

The Export Price Index (XPI) decreased by 1.8 percent compared to the previous month. There was a 2.2 percent decrease in the prices for manufactured products. Compared to June 2017 the XPI increased by 9.6 percent. In the mentioned period prices increased for manufactured products by 8.6 percent and for …

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Exports and Imports Dynamics of Georgia by Months

In January-June 2018 the external trade turnover of Georgia with the EU countries amounted to USD 1 644.5 million, grew by 25.2 percent compared to the corresponding indicator of the previous year. Exports amounted to USD 367.8 million (21.5 percent higher), while imports amounted to USD 1 276.7 million (26.3 …

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Government to Write Off 550 million GEL Debts from Business Sector

Giorgi KakauridzeGiorgi Kakauridze

Prime Minister Mamuka Bakhtadze has proposed to write off tax debts from business sector accumulated before January 1, 2013. To enable business to continue valuable operation, debts will be written off from 36 000 taxpayers, Bakhtadze noted. The bill of amendments to Tax Code was discussed by the finance and …

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Georgian Economy Saw 7.5% Growth in May

According to preliminary estimations by Geostat, national statistics service of Georgia, in May 2018 Georgian economy grew by 7.5% and this is one of the highest figures under the ruling of Georgian Dream. According to Geostat, in January-May the economic growth constituted 6.1%, up 1.6% compared to the government’s forecast …

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Container Shipping Increased by 18.4% in Poti Port

Container shipments increased by 18.4% in the Poti Port during the 6 months of 2018 compared to the same period of the previous year. Container shipments are directly linked to Georgia with the growth of GDP and economic development, as well as neighboring countries in the first half of 2018. In …

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Quantity of Flights Grows at Georgian Airports

According to Civil Aviation Agency, in January-June 2018, as compared to the same period of 2017, number of flights at Georgian airports rose by 1 952 ones. The reporting period recorded 10 720 passenger and cargo flights, including 9 304 regular flights and 1 416 charter flights. According to the …

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Vocational Education Employment Rate is 56%

The Ministry of Education and Sciences published a survey of vocational collage educational program graduates, on which survey the Ministry has been working for over a year. According to the survey, the rate of employment of professional educational program graduates is 56.2%. This rate was calculated on the basis of …

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Recent Report of Electricity Prices in Georgia and Turkey

Wholesale market price in Georgia increased by 39.2% y/y to USc 5.4/kWh, from USc 3.9 (-17.2% y/y) in May 2017. The reason behind this dramatic increase was the high share of electricity imports with average price of USc 5.8/kWh into the energy traded through ESCO. In total, only 7.0% of total electricity supplied …

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Aviation Kerosene Imports to Georgia Grow by 27.5%

In June 2018 aviation kerosene imports to Georgia made up 10 000 tons, up 2.7 thousand tons compared to May 2018 (7.3 thousand tons in May). The major volume of aviation kerosene in June 2018 was imported from Turkmenistan – 6.3 thousand tons, which is 63% in total imports. Greece …

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External Merchandise Trade of Georgia Rose by 24.5%

External Merchandise Trade (excluding non-declared trade) of Georgia amounted to USD 5 985.9 million in January-June 2018 (preliminary data), 24.5 percent higher year-on-year. The value of export increased by 28.8 percent reaching USD 1 593.6 million, while the import grew by 23.0 percent and amounted to USD 4 392.3 million. …

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