According to cheeroutdoor, Georgia’s GDP is 7.3 billion lari, GDP per capita is 13.3 lari (2002). Georgia’s share in world trade is minuscule. The number of registered unemployed is 37 thousand people. (2002). As of January 1, 2002, trade reserves amounted to 0.08 billion lari. Retail turnover through all sales channels at current prices is 3.06 billion lari, per capita – 0.62 thousand lari. In 1999, the inflation rate was forecast to be in the range of 10-12%.
The structure of GDP by sectors of the economy (2002, million GEL): agriculture, hunting, forestry and fishing – 1193.0; mining and quarrying, manufacturing, electricity, gas and water supply – 1050.0; construction – 223.5; wholesale and retail trade, repair of cars, motorcycles, household goods and personal items – 894.6; transport, warehousing and communications – 855, etc.
Among the most important industries, a special place is occupied by: food – production of tea, wines and cognacs, mineral waters, tobacco, essential oil crops, canned vegetables and fruits; light – silk, woolen, cotton, shoe, knitwear, clothing production; ferrous and non-ferrous metallurgy.
Agricultural production (in current prices) of all categories in 2002 amounted to 2 billion lari. Gathering of the main agricultural crops in Georgia (2002), million tons: grain crops – 0.7; potatoes – 0.4; vegetables – 0.4.
The length of railways is 1.6 thousand km; highways 19.0 thousand km; cargo transported: 11.5 million tons by rail, 0.1 million tons by sea, 18.5 million tons by road, and 1.3 thousand tons by air (2000). In 2000, the following were sent via the communication line: 3.8 million newspapers and magazines; letters – 1.5 million; parcels – 10.3 thousand pieces; money transfers and pension payments – 6.7 million. The number of telephone sets of the public telephone network – 672 thousand pieces.
Retail turnover (in current prices) in 2000 amounted to 1.83 billion lari. In recent years, efforts have been made to revive the resort and tourist complex, which was disrupted as a result of the Georgian-Abkhaz conflict.
The Central Bank of Georgia has the following tools for implementing monetary policy: open market operations, changing reserve rates, changing borrowing rates, implementing a “dear money” policy (high interest rate for a loan). In 2000 there were 30 commercial banks.
The average nominal wage in Georgia in 2001 was 92 GEL. The minimum retirement pension is 14 GEL (2002), the minimum amount of scholarships is 9.5 GEL (2000). Deposits of the population in Sberbank institutions are 108.4 million lari, per capita – 22 lari (2000).
The structure of household consumer expenditures (in %): expenditures on food – 49.5, on non-food products – 28.2, on alcoholic beverages – 0.8, on goods and services – 21.5.
In general, the socio-economic situation of the population remains difficult. Up to 1 million people are forced to leave in search of work in other countries, mainly in the Russian Federation.
The public external debt in Georgia amounted to 200% of the value of exports (2002).
Foreign trade (2002, million US dollars): export to the CIS countries 139, to other countries 154; import from the CIS countries 253, from other countries 395.
Mineral waters, wines, pipes, alloys of ferrous and non-ferrous metals are exported. Among the imported goods, oil and oil products, tobacco products, natural gas, and automobiles occupy the main place.
The geography of foreign trade with 93 countries has expanded. However, Georgia has a positive trade balance with only 12 of them. Among the main trading partners: the Russian Federation – 17.9%; Turkey – 13.8%; Azerbaijan – 11.8%; USA – 6.1%. The main partners account for 75% of the turnover. Trade with the United States and Turkey is growing at the fastest pace. The volume of bilateral Russian-Georgian trade amounted to: products $46.8 million, ferrous metal alloys and products made from them $9.4 million. Imports from Russia are dominated by energy resources – $77 million, engineering products – $20, $3 million.
Foreign investments in the Georgian economy in 2001 amounted to over 150 million US dollars. The largest of these come from Israel ($18.079 million), Ireland ($17.617) and Turkey (11.968), followed by the UK, the US, South Korea and Germany. A significant part of them is directed to the restoration of the electric power industry, transport, the production of food, building materials.
