In the first quarter of 2017, compared to the corresponding period of 2016:
The production value of the business sector significantly increased (16%);
A 19.1% increase in total turnover was observed;
The number of persons employed in the business sector increased (4.7%; 27,000 persons);
The average monthly remuneration of persons employed in the business sector increased (11%; GEL 101.6).
In January-April 2017, compared to the corresponding period of last year:• Both, export (29.7%) and import (12.7%) volumes increased;• Turkey was the leading trade partner of Georgia (14.6% of total trade turnover); • The proportion of EU countries in total trade turnover reached 27%;• The volume of export to Russia significantly increased (131%);• Of Georgia’s exports, 9.9% went to China.
The map provides information about the visa requirements for Georgian visitors in abroad. It also gives information which type of visa foreign visitors need to enter to Georgia. Moreover, the other visa related information by country is also provided on the map.
According to data for February 2017, compared to the corresponding period in 2016:
• The volume of deposits increased by 7.4%;• The volume of loans to the national economy increased by 15.4%;• The share of loans for construction in total loans increased significantly (2.2 percentage points), while the share of loans for trade decreased (-2.9 percentage points);• The share of non-performing loans in total loans decreased (-0.6 percentage points).
Based on the preliminary data, in 2016 compared to 2015:
• The volume of foreign direct investment (FDI) increased by 5% and amounted to 1.6 bln. USD. • The largest increase in FDI came from Turkey (200 mln. USD), amounting to 272 mln. USD. • By sector, the biggest increases in the volume of FDI were in manufacturing (79%, 53 mln. USD) and in the energy industry (64%; 79 mln. USD). Meanwhile, in the financial sector the volume of investment decreased (-24%; 42 mln. USD). • The volume of investment increased in Kvemo Kartli (265%; 56 mln. USD) but decreased in Adjara (-21%; 43 mln. USD).
In January-February 2017, compared to the corresponding period of the previous year:
• The number of international visitors increased by 71 000 people and reached 775 000 persons; • The number of visitors increased from Russia (31 400 people), Armenia (24 300 people) and Iran (12 400 people) while the number of visitors decreased from Turkey (-19 700 people); • The number of visitors arriving at Tbilisi International Airport increased by 38 500 people, at Kutaisi International Airport by 5 000 people and at Batumi Airport by 187 people.
In 2016, compared to 2015:
• The volume of remittances increased by 6.6% and amounted to 1.1 bln USD;• Remittances from Russia, the leading source country, makes up 34.3% of total remittances, a decrease of 8.8%. • The United States moved from fourth to second place, reaching 11.1% of total remittances;• The United States is in the first position in terms of remittances per migrant and is 1.2 times higher than remittances per migrant from Russia.
In 2016, compared to 2015:
• The volume of imports decreased by 0.5%;• The volume of exports decreased by 4.1% while the volume of re-exports decreased by 19.6%. The share of re-exports in total exports reached 21.6%;• For the first time since 2005, Russia is again Georgia’s number one trading partner in terms of exports;• Turkey is still the number one trading partner in terms of imports.
Starting from 1st January of 2017 the new rule of excise tax calculation launched. There is a significant increase of excise tax on the automobiles issued before 2005. The excise tax on the automobiles with right-hand side wheel also increased significantly and amounted to 3 times more than the same car with left-hand side wheel. Based on the structure of Georgian autopark, the above graph shows the excise tax on automobiles with 1.6, 1.8 and 3.2 engine. According to the new rule the lowest fee of excise tax is for the cars issued in 2010.
Analysis of January - November 2016, compared to the corresponding period in 2015:
• Net profit of commercial banks increased by 25.1% (114 mln GEL) and amounted to 567 mln GEL. • The volume of deposits increased (9.4%), as did the volume of loans (7.9%) (adjusted for exchange rate). • The proportion for which construction (by 2.8 percentage points), financial intermediation (2.5 percentage points) and hotels and restaurants (3.0 percentage points) were responsible for total loans increased. • The volume of non-performing loans increased by 9.5% which is mostly due to depreciation of GEL exchange rate.