Georgia: external trade up in January-April 2021

Georgia’s external trade turnover amounted to $3.92 billion in January-April, up by 12.8% YoY, preliminary data from the National Statistics Office of Georgia (Geostat) showed. The value of exports increased by 19.6% and totaled $1.19 billion, while imports increased by 10.1%, amounting to $2.73 billion. The trade deficit of Georgia in January-April amounted to $1.53…

Georgia: economy down in 2020

The nominal gross domestic product (GDP) amounted to 49.40 billion GEL in 2020, up by 0.3% YoY, while the real growth of GDP reduced by 6.2%, preliminary data from the National Statistics Office of Georgia showed. The largest shares of GDP by activity were held by: wholesale and retail trade; repair of motor vehicles and…

Ukraine: regular flights to Georgia to resume

SkyUp Airlines will launch flights on the Kyiv-Tbilisi-Kyiv route twice a week from February 4. According to a representative of Tbilisi International Airport, regular flights between Georgia and Turkey on the Tbilisi-Istanbul-Tbilisi route will also be launched from February 4. Pegasus Airlines will operate flights five times a week. Starting from March, flights are planned…

Georgia: Enguri HPP closes for 3 months for repairs

From January 20 the Enguri hydro power plant (HPP), the largest electricity producer of Georgia that supplies its Russia-occupied region of Abkhazia, will be closed for repairs for three months. Economy Minister Natia Turnava has announced that while the dam is closed, Abkhazia will receive electricity imported from Russia. “Shutting down the Enguri HPP will…

Georgia: economy to contract by 6% in 2020

The Georgian economy is projected to contract by 6% in 2020, while in 2021 economic growth is forecast to reach 4%, says the latest edition of the World Bank’s Economic Update for the region. “In Georgia, the sharp contraction of economic output is showing signs of easing on the back of fiscal support, sustained credit…

Georgia: honey from Ninotsminda added to list of geographical indications

Honey from Ninotsminda, the Samtskhe-Javakheti region has been added to the list of geographical indications. “The special quality, features and reputation of this product, which is due to the environmental conditions and human factor typical of the Samtskhe-Javakheti region, are recognized at the state level,” said the National Intellectual Property Center Sakpatenti. The Samtskhe-Javakheti region…

Georgia: money transfers up in August 2020

The volume of money transfers to Georgia in August was $184.2 million, up by 25.8% YoY, said the National Bank of Georgia (NBG). More than one-third of money transfers came in from the European Union: EU countries – $74.53 million (40.46%) and other countries – $109.68 million (59.54%). The largest countries, from which money transfers…

Georgia: external trade down in January-August 2020

Georgia’s external trade turnover amounted to $7.02 billion in January-August, down by 16.7% YoY, showed preliminary data from the National Statistics Office of Georgia (Geostat). The value of exports decreased by 14.7% and reached $2.07 billion, while imports decreased by 17.5%, amounting to $4.95 billion. The trade deficit of Georgia in January-August amounted to $2.88…