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Macroeconomic overview

Macroeconomic Overview:

In 2008 the GDP growth rate was 2,3 per cent. GDP in current prices amounted to 19 075 mln GEL or 12 800 mln. USD and GDP per capita equaled to GEL 4 353    (2 921 USD).

In 2008 the inflation rate was 5,5%. (In 2007 the inflation rate in Georgia was 11,0%; in the 2006 inflation rate was 8,8; in 2005 the inflation rate was 6,2% and in the 2004 inflation rate was 7,5%)

FDIs (Foreign Direct Investment) in 2008 amounted 1 564 ml. USD

In 2008 the foreign trade turnover amounted to 7 555.8 ml USD (17.2% increase in comparison with the last year), where the export was 1497.7 ml. USD (21.5% increase) and import - 6058.1 ml. USD (16.2% increase). The negative trade balance of Georgia was equal to 4560 ml. USD. The ratio of import coverage by export was 24.7 per cent (see annex).

In 2009 the GDP's rate amounted -3,8%. GDP in current prices amounted to 17,986  million GEL (10 767 million USD) and GDP per capita equaled to GEL 4101 (2455 USD).

In 2009 the inflation rate was 3.0%. (In 2008 the inflation rate in Georgia was 5.5%; in the 2007 inflation rate was 11.0; in 2006 the inflation rate was 8.8% and in the 2005 inflation rate was 6.2%)

The FDI's in 2009 amounted 658.4 mln.USD.  

In 2009 the foreign trade turnover amounted to 5513.3 ml USD (29.3% reduce in comparison with the last year), where the export was 1135.0 ml. USD (24.1% reduce) and import - 4378.3 ml. USD (30.6% increase). The negative trade balance of Georgia was equal to 3243.4 ml. USD. (30.6% reduce) The ratio of import coverage by export was 25.9 per cent (see annex).

In January-November 2010 the GDP growth rate amounted to 6,5% (preliminary data). GDP in current prices amounted 14 733 million GEL (8 237 million USD) and GDP per capita equaled to GEL 3 321.0 (1856.0 USD).

The FDI's in 2010 (January-November) amounted to 433.0 mln.USD.  

In January-October 2010 the foreign trade turnover amounted to 5883.0 ml USD (19.0% increase in comparison same period of the last year), where the export was 1394.0 ml. USD (37.0% increase in comparison same period of the last year ) and import - 4489.0 ml. USD (15.0% increase in comparison same period of the last year). The negative trade balance of Georgia was equal to 3095.0 ml. USD. (7.0% increase in comparison same period of the last year) The ratio of import coverage by export was 31.0 per cent (see annex).

                                        

Table 1. Main Economic Indicators

 (2006 - 2010 January-November)

 

2006

2007

 

2008

 

2009

 

2010(January-November)

 

Real GDP Growth (%)

9.4

12.3

2.3

 

-3.8

 

6.5(January-November)

foreign trade turnover

(mln. USD)

4670.4

6456.9

7555.8

 

5513.3

 

5883,0

Export (mln. USD)

992.6

1240.2

1497.7

 

1135.0

 

 

1394,0

Import (mln. USD)

3677.8

5216.7

6058.1

4378.3

 

 

       4489,0

Exports (growth,%)

14

32.5

21.5

24.1

(reduce)

 

37.0

Imports (growth,%)

47.8

41.8

16.2

30.6

(reduce)

 

15.0

Inflation Rate (%)

 

8.8

11.0

5.5

3.0

            __

Foreign Direct Investments

(mln. USD)

1 190.0

2 014.8

1 564

658.4

433.0(January-November)

GDP (mln USD)

7 762

10 171

12 800

10 767

8 237(January-November)

GDP per capita (USD)

1 764

2 315

2 921

 2 455

 

1856.0(January-November)

Attached documents: Annex

 
 
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