In the first quarter of 2014, real GDP increased (7.1%, 223mln GEL). Manufacturing (16.7%, 56.4 mln.GEL), construction (14%, 35 mln. GEL) and trade (11.1%, 57.1mln GEL) expanded the most. The reduction was only in mining (-13.6%; -3.3 mln.GEL). In the first quarter of 2014, FDI (15%; 33.7 mln.USD) also increased.
In January-May of 2014, the state budget total revenue of Georgia increased (4.7%; 127.7 mln.GEL), compared to the respective period in 2013. This is due to significant increase of tax revenue (5.1%; 131.1 mln.GEL) and other revenues (17.0%; 16.1 mln.GEL).
In March 2014, the volume of export (-33.3%; -5.1 mln.USD) as well as the volume of import (-4.3%; -2.1 mln.USD) decreased significantly compared to March 2013. In the first quarter of 2014, according to the share in total export (8%), Ukraine is the fourth largest partner of Georgia. According to the share in total import (6%) , Ukraine is Georgia’s fifth partner.
In 2013 total volume of exports from Georgia to Russia is 190 mln. USD (24% of turnover), while import volume is 589 mln. USD (76% of turnover). In 2013 the negative trade balance with Russia decreased (7%; 28 mln.USD) and equals -399 mln. USD compared to 2012.
In 2013, the volume of construction decreased (-10.5%; -124.3 mln.GEL) compared to 2012. Therefore, the number of empolyees in construction sector also decreased (-18.8%; -10,984 man). In 2013, expenses on construction from the consolidated budget was less (-19.2%; -368.2 mln.GEL) than the corresponding indicator in 2012.
In January 2014, the indicator of the volume of loans exceeds (21.6%) to the corresponding indicator in January 2013. The weighted average interest rate on loans decreased (1 percentage point) and equals 18.4%. In January 2014, the indicator of the volume of deposits exceeds(21.0%) to the corresponding indicator in January 2013.
In 2013, the expenses on infrastructure declined (-24%, -362 mln.GEL), but the expenses on social benefits increased (23.5%, 437 mln.GEL) compared to 2012. In 2014, planned expenses on social benefits (22.5%, 516 mln.GEL) and expenses on infrastructure (46%, 523 mln.GEL) are higher compared to the corresponding actual indicators of 2013.
In 2013 the negative external trade balance decreased (-9.1%, -500 mln. USD) compared to the corresponding indicator in 2012. In the mentioned period, the volume of export increased significantly (22.4%, 532 mln. USD), while the volume of import almost remained unchanged (0.4%, 32 mln. USD). In 2013, the external trade turnover with EU countries increased (3.5%, 97.8 mln. USD).
The completion rate of state budget in 2013 is 91%.Correspondingly, there is the lack of 608.9 mln GEL in state budget.
In 2013 Budget revenue decreased (-2.1%) compared to 2012. Tax Revenue (-0.2%) as well as grants (-23.3%) and other revenues (-13.3%) also decreased.