Georgia: economy up in January-August 2018

Georgia’s economy grew by 4.8% YoY in the first eight months of 2018, announced the National Statistics Office of Georgia (Geostat). The estimated real gross domestic product (GDP) growth rate in August was 2%, Geostat said. Last month the estimated real growth, compared to the same period of the previous year, was posted in the…

Georgia: 2018 grape harvest kicks off

The 2018 grape harvest is in full swing in Georgia’s wine region of Kakheti. This will be the first grape harvest in the last 10 years that has not been subsidized by the state. Diversified markets, increased wine exports and the number of enterprises on the market gives firm reasons to believe that the grape…

Georgia: TBC Bank profits up in H1 2018

Georgian company TBC Bank has enjoyed a considerable year-on-year jump in its pretax profit in the 2 quarters of 2018. During the first half of the year TBC’s profit amounted to GEL 239.5 million ($92.8 million). Compared to the first half of last year, TBC Bank reports a GEL 48.1 million ($18.6) increase. Over the…

Georgia: trade with EU up in January-July 2018

Georgia is increasing its role as an important trade partner for the European Union (EU), the Commonwealth of Independent States (CIS) and other countries. In January-July trade turnover with EU countries increased by 25.6% YoY, to $1.95 billion, and with CIS countries by 33.5%, to $2.38 billion, says the National Statistics Office of Georgia (Geostat).…

Georgia: win-win trade with Iran enjoyed

Georgian Ambassador to Tehran Ioseb Chakhvashvili said Tbilisi was willing to increase its economic cooperation with Iran and looked forward to win-win trade with the Islamic Republic. “Given the existing potential between the two countries, we are seeking win-win cooperation with Iran,” Chakhvashvili said during a meeting in Tehran. He added that Iranian investors could…

Georgia: annual inflation rate up in July 2018

Georgia’s monthly inflation rate amounted to -0.3% in July, while annual inflation from July 2017 to July 2018 amounted to 2.8%, reports the National Statistics Office of Georgia (Geostat). Last month prices of food and non-alcoholic beverages decreased by 1.1%. Prices decreased for: fruit and grapes (-12.6%) and vegetables (-10.7%). In the meantime, the prices…

Georgia: wine exports up in H1 2018

Georgia exported 38.2 million bottles of wine to 48 countries in the first six months of 2018, announces the Georgian National Wine Agency. In January-June Georgia generated about $90.3 million from the sale of wine abroad. Revenue increased by 28% YoY, while the volume of exports increased by 21%, said the Georgian National Wine Agency.…

Georgia: wine tasting held in Scotland and UK

A Georgian wine tasting “Georgian Wine Roadshow” event was held in Glasgow, Scotland and Manchester, England on June 18-19, the Embassy of Georgia to the United Kingdom announced. The wine tasting events, where 30 different varieties of Georgian wine were presented, were organized by Georgian Wine UK. The guests also had the opportunity to taste…

Georgia: Stingers to follow Javelins

The Acting Defense Minister Levan Izoria told lawmakers on June 20 that in the near future Georgia would receive the most modern, man-portable air defense system – FIM-92 Stingers – from the United States. Izoria said that together with Javelins, the new systems would significantly empower the country’s self-defense capabilities. Stinger (FIM-92) is a man-portable…

Georgia: 13 wine companies showcased at Vinexpo Hong Kong

Thirteen Georgian wine companies have made quite an impression at the leading industry event for wine and spirits professionals in the Asia-Pacific, Vinexpo Hong Kong, which was held on May 29-31. The three-day show featured meetings, new products and networking opportunities for importers, distributors, producers, sommeliers and merchants from around the world, including Georgia. As…

Georgia: air traffic control office and training center opens at Tbilisi airport

Georgia’s air navigation service provider Sakaeronavigatsia is marking its 25th anniversary by opening a new air traffic control (ATC) office and a training center at Tbilisi International Airport, equipped with state-of-the-art technology. Georgia’s Prime Minister Giorgi Kvirikashvili congratulated Sakaeronavigatsia officials and said this was another step forward to increase flight safety and to develop the…

Georgia: European partners to help reform energy sector

The Government of Georgia, the German government-owned development bank KFW and the French Development Agency (AFD) have signed a declaration on launching reforms for developing the energy market in Georgia and improve energy efficiency in the country. As Georgia’s Prime Minister Giorgi Kvirikashvili stated at the government meeting, the development of the country’s energy field…