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Georgia
| Economy Overview |
| Georgia's main economic activities include the cultivation of agricultural products such as citrus fruits, tea, hazelnuts, and grapes; mining of manganese and copper; and output of a small industrial sector producing alcoholic and nonalcoholic beverages, metals, machinery, and chemicals. The country imports the bulk of its energy needs, including natural gas and oil products. Its only sizable internal energy resource is hydropower. Despite the severe damage the economy has suffered due to civil strife, Georgia, with the help of the IMF and World Bank, has made substantial economic gains since 1995, achieving positive GDP growth and curtailing inflation. However, the Georgian Government has suffered from limited resources due to a chronic failure to collect tax revenues. Georgia's new government is making progress in reforming the tax code, enforcing taxes, and cracking down on corruption. Georgia also suffers from energy shortages; it privatized the T'bilisi electricity distribution network in 1998, but payment collection rates remain low, both in T'bilisi and throughout the regions. The country is pinning its hopes for long-term growth on its role as a transit state for pipelines and trade. The construction on the Baku-T'bilisi-Ceyhan oil pipeline and the Baku-T'bilisi-Erzerum gas pipeline have brought much-needed investment and job opportunities. |
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| Economy Statistics |
| Exports: |
$909.4 million (2004 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
scrap metal, machinery, chemicals; fuel reexports; citrus fruits, tea, wine [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
Turkey 18.3%, Turkmenistan 17.8%, Russia 16.2%, Armenia 8.4%, UK 4.9% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$1.806 billion (2004 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
fuels, machinery and parts, transport equipment, grain and other foods, pharmaceuticals [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
Russia 14%, Turkey 11%, UK 9.3%, Azerbaijan 8.5%, Germany 8.2%, Ukraine 7.7%, US 6% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| American Chamber of Commerce in Georgia |
| Address: |
1 Nustubidze St, Tbilisi 0177 Georgia |
| Phone: |
+(995 32) 251-437 |
| Fax: |
+(995 32) 250-495 |
| Website: |
http://www.amcham.ge/ |
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