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Gross Domestic Product of Georgia I quarter, 2018

GDP Geo

In Q1 2018 the real growth rate of Gross Domestic Product (GDP) amounted to 5.3 percent year-on-year, while the GDP deflator increased by 4.3 percent. The nominal GDP totaled GEL 9 150.2 million. Real growth was registered in the following activities: Real Estate, Renting and Business activities (13.4 percent), Other …

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Downturn in FDI – A Warning to Investors?

According to preliminary indicators by Geostat, the national statistics service of Georgia, foreign direct investments (FDI) in the first quarter of 2018 were 279.3 million USD, down 32.9% compared to preliminary indicators from the first quarter of 2017. According to Geostat, the downturn emerged after several enterprises changed ownership to …

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Georgia’s Visitor Spending Increased This Year

Expenditure has increased for visitors- shows Geostat research. According to year’s first quarter data, visitors’ expenses exceeded 120 million GEL, when it was 112 million GEL in the corresponding period last year. During the reporting period, average expenditure has been increased by 7.5 GEL and amounts 122,3 GEL. The biggest …

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Foreign Trade Turnover Rises by 24.5%

In January-May 2018 Georgia’s foreign trade turnover (excluding undeclared trade) made up 4 894.8 million USD, up 24.5% compared to the same period of 2017. According to Geostat, national statistics service of Georgia, exports constituted 1 284.7 million USD, up 28% and imports constituted 3 610.1 million USD, up 23.3%. …

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Foreign Direct Investments are Down by 32.9 Percent

Foreign direct investments (FDI) in Georgia amounted to USD 279.3 million in Q1 2018 (preliminary data) down 32.9 percent from the preliminary data of Q1 2017. The main reasons for decreasing the FDI are transferring of ownership in some companies from non-resident to a resident units and reduction of debt …

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Geostat: Averaged Salary Rose by ₾82 to ₾1106

According to Geostat, national statistics service of Georgia, in the first quarter of 2018, averaged monthly salary in business sector totaled 1106.4 GEL, up 82.4 GEL year on year, including women’s salary made up 841.1 GEL, up 64.7 GEL year on year. Due to the size of companies, averaged monthly …

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Unemployment Declines Slightly

Employment rising since 2009, but citizens still complain about joblessness. In 2017, the unemployment index in Georgia declined by 0.1% compared to 2016, and was 13.9% in total. According to Geostat, the national statistics service of Georgia, the country is seeing a tendency towards reduction in unemployment. The unemployment level …

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Where Tourists Spend Money in Georgia

Tourists Spend 4.3 Nights on Average and 888 GEL in Georgia. About 7.9 million international nonresident tourists visited Georgia in 2017, according to Geostat, the national statistics service of Georgia, up 17.7% from the previous year. The percentage of tourists in the 31-50 age category made up 44.7% of the …

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Geostat: Unemployment Rate is Higher Among Men than Women

According to Geostat’s research, the unemployment rate is traditionally higher among men than in women. In 2017, the indicator was higher than 2.3 percentage points in men compared to the corresponding indicator of women. In addition, the indicator in 2017 increased by 1.8 percentage points in women compared to 2016, …

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Economic Growth in 1Q18 Marked 5.2%

GDP growth pace in March 2018 constituted 5.6% year on year, while the 1Q18 real averaged growth made up 5.2%, according to a preliminary report. According to Geostat, national statistics service of Georgia, in March 2817 a significant growth was recorded in social, personal and communal services, processing industry, transport …

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Georgian Products Exports to China Shrinks 2.4 times

Georgia-China free trade agreement came into force on January 1. As a result, 94% of Georgian products were exempted from customs taxes on Chinese market. Georgia exports wines, nuts, honey, mineral waters, beer, soft drinks, juices, vegetable, fruits, chocolate products, tea, fish and other marine products, cereals, cables, plastic products, …

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