• Georgia

    Georgia

    DEVELOPMENT CHALLENGES 

    After declaring independence in 1991, Georgia started a transition period with a low level of income, slender fiscal resources, as well as a weak institutional and administrative capacity. The country began a period of strong growth in 2001, with GDP growing at 6.4% annually on average until 2010. Growth mainly came from a small number of sectors, including construction, real estate, telecommunications, financial services, and manufacturing. Today, Georgia is a “lower-middle” income country with a per capita GNI of US$2,690 and a “high” Human Development Index (HDI) of 0.733, placing Georgia in 75th position of 187 countries. Nevertheless, Georgia was strongly affected by the August 2008 conflict and the subsequent global economic crisis, with an economic contraction of 3.9% in 2009 and a corresponding decrease in the current account deficit. The country continues to face serious development challenges.

    • Poverty and inequality
    • High unemployment, labour migration, and a large informal sector
    • Skills gap
    • Regional tensions and large-scale conflicts

    KEY TRADE ISSUES 

    • Weak competitiveness, low productive capacity and trade deficit
    • Market concentration
    • Underdeveloped quality management infrastructure
    • Limited access to finance
    • Continued need to improve customs procedures

    GOVERNMENT PRIORITIES 

    The national development priorities of the Government of Georgia are described in its United Georgia without Poverty programme. Oriented towards the appreciable economic growth and territorial integrity of Georgia, these objectives are to:

    • Return the Georgian economy to a high growth path, and develop infrastructure, high-quality education and the business environment;
    • Ensure macroeconomic stability, and undertake tax and regulatory reform;
    • Conclude the Association Agreement with the EU and develop freer trade through non-use of tariff and non-tariff barriers;
    • Further consolidate progress in fighting corruption through a flexible and uncorrupted system of public administration;
    • Develop villages as well as revitalize cities and recreational territories through the improvement of urban infrastructure and the water supply sector;
    • Ensure further consolidation of progress achieved in public order to maintain the high trust of the society in the police, create a safer atmosphere for citizens, and improve the business environment;
    • Reduce isolation, increase the availability of privileges of other citizens of Georgia for residents of the occupied territories, and improve opportunities to take part in civilian life; and
    • Develop and provide assistance to an independent and unbiased judiciary, introduce a private law enforcement system, and consolidate democratic institutions.

    More detailed information on Georgia can be found here. 

    Trade and Tariff Graphs

    Graphs of the country’s export markets, its export performance in a key sector and tariffs exporters of a sample product face.
    Trademap sample Trademap sample: The map uses color codes to illustrate the relative size of different markets in the overall exports of the country shown in pink.
    Trademap sample Trademap sample: The vertical axis shows import values by key importing countries, while the horizontal axis shows export values by the country for the same sector. I.e. the country has gained market share in the case of an importing country at the bottom right of chart and lost market share for countries top left. The size of circles is proportional to market size.
    Market access map sample Market access map sample: The world map shows trade values and tariff levels for a key export product by importing countries. Color codes indicate protection levels. Red circles denote trade volumes.

    Trade and Investment Data

    Detailed data on the country’s export performance, key imports and foreign investment, grouped by product and service categories (HS and BOP).

    Trade Information Sources

    A listing of country specific print and online publications on trade related topics. Includes information from both ITC and external sources.

    Trade Contacts

    The most important trade contacts, including importers’ and exporters’ associations, trade support institutions, trade promotion organizations and institutions providing business development assistance.