Inflation rate in Georgia will remain double digit in the beginning of 2022 before decreasing sharply in March, the Renaissance Capital investment bank reports. Meanwhile, inflation rate in Georgia in December 2021 increased by more than 11% YoY, to 13.9%. Renaissance Capital considers the tightening of monetary policy by the National Bank of Georgia was…
Georgia’s tea imports from January through November 2021 amounted to $8 million, down by 14.8%, compared to $9.4 million over the same period of 2020, the National Statistics Office (Geostat) reported. Top-5 tea exporters to Georgia were: Azerbaijan – $4.3 million, Russia – $1.5 million, Sri Lanka – $1.2 million, Turkey – $251,310 and France…
Otar Danelia, Georgia’s former first deputy economy minister and Head of the National Agency of Mines, has been appointed business ombudsman by prime minister Irakli Garibashvili, with the decision revealed on February 9. Garibashvili met Danelia at the Administration of the Government of Georgia, wishing the new appointee success in the new role. At the…
Georgia exported 5.3 million bottles of wine to 35 countries in January, up by 51% YoY, the Ministry of Agriculture and Environmental Protection announced on February 8. The exports generated $11.6 million from the sale of wine abroad in January, marking an increase of 43%, according to data from the state body. The volume of…
Georgia ranked 50 in terms of bilateral trade (53 in export and 47 in import) among all trade partners of Lithuania in 2020, which made Georgia the biggest trade partner of Lithuania in the South Caucasus region, the Ministry of Foreign Affairs of the Republic of Lithuania reported. According to the ministry, Lithuania’s direct investments…
Azerbaijan became the main exporter of electricity to Georgia from January through November 2021, amounting to $24.5 million worth of exports. However, Georgia’s electricity imports from Azerbaijan in the reporting period of 2021 decreased by 16.9% compared to $29.5 million over the same period of 2020. Meanwhile, Russia became the second main exporter of electricity…
The Consumer Price Index in Georgia increased by 1.1% in January compared to the previous month, while the annual inflation rate stood at 13.9%, the latest inflation data of the National Statistics Office of Georgia (Geostat) showed. “With regard to annual core inflation, excluding food and non-alcoholic beverages, energy, regulated tariffs and transport, prices increased…