In 2017 Georgia Enjoyed Highest Growth in 5 Years

    904

    For marketing of your brand you can now send us a WhatsApp message directly, click here.

    SET-PI has updated its forecast of Georgia’s real GDP growth rate for the first quarter of 2018. Here are the highlights of this month’s release:

    • Geostat has published its rapid estimate of real GDP growth for the fourth quarter of 2017. Estimated growth stands at 4.7%, which is only 0.1% higher than the value forecasted in the last update of our model.

    • Given the latest data, Georgian annual real GDP growth in 2017 amounted to 4.8%. Our annual GDP forecast of 4.7% (since November 2017), and 4.8% (since December 2017), therefore turned out to be quite accurate.

    The other set of variables which has had a significant positive effect on the predicted real GDP growth was related to the external sector. Georgia exports continued to expand, increasing by 49% yearly in December 2017, while imports were up by 15%. The trade deficit, however, deepened by 0.8% yearly, and amounted to 557.1 million USD.



    The improvement in trade statistics was mainly due to better economic conditions in the entire region. Moreover, exports to China contributed significantly to growth in export revenues (mainly through copper ores and ferroalloys exports). Georgia also continued to export more wine to China. Cigarette exports increased by more than 14 times, mainly due to the increase in tobacco excise taxes. The only export category that experienced a significant decrease during the last month of 2017 was hazelnut exports.


    Subscribe to the tablet/Smartphone edition here:
    https://issuu.com/store/publishers/theclipper/subscribe

    Subscribe to the Print edition here:
    https://www.agropress.com/produkt/the-clipper-print-edition-subscription-2/

    Book your advertisement in the Print Edition, the Podcast, the Smartphone Edition, our Youtube and Social Media Channels here:
    https://www.agropress.com/shop/

    Listen to the Podcast here:
    https://anchor.fm/theclipper

    See our Media Kit here:
    http://theclippermag.com/wp-content/uploads/2020/04/AGROPRESS-CLIPPER-MEDIA-KIT-ENGLISH-2020.pdf


    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    This site uses Akismet to reduce spam. Learn how your comment data is processed.