Economy Annex
Export Growth
WTO member since 2000; No quantitative restrictions on
trade; As of November 2007 Georgia has entered into a FTA
with Turkey
One of the two beneficiaries of the EU GSP+ Scheme in the
CIS since 2006, granting local companies the right to export
7,200 categories of goods duty-free. US-Georgia charter on
strategic partnership envisions an update of Bilateral
Investment Treaty, expansion of Georgian access to the GSP
and the possibility of entry into Free Trade Agreement
Export growth of 33% y-o-y 1H 2010 driven by exports of
main export items: agricultural products, ferroalloy, precious
metals, aircraft, rail car, vessels, fertilizers and machinery
Significant investments made in export oriented companies:
import of capital goods amounted at c.13% of GDP from 2004
to 2009
Rapidly growing tourism sector - c.US$1.4B of donor money
earmarked for investments in infrastructure. 2010 a record
year in number of tourists visiting Georgia
Huge untapped hydro-power resources - only 18% of
Georgia's hydro potential of 50 GWh is being utilized; 1,200
MW transmission line to Turkey will become operational in
2013 which will significantly boost export potential to Turkey
Electricity Export/Import
mln kWh
2,000
1,500
1,000
1,217
500
236
749
634
679
494
1,256
200
71
122
96
30
(255)
(434)
(649)
(39)
(777)
(500)
(1,080)
(1,288) (1,399)
(681)
(1,000)
(844)
(1,217) (1,277)
2003
2004
2005
2006
2007
2008
2009
Aug-10
Export Import
Net export
(1,500)
Number of tourists
'000
2,500
2,000
1,500
1,000
560
500
368
313
1,500
1,290
983
1,052
1,950
Source: National Statistics Office of Georgia, Ministry of Energy of Georgia
Loka
BANK OF GEORGIA
www.bog.ge/ir
2003
2004
2005
2006
2007
2008
2009
2010F
Europe excluding Turkey
CIS
Turkey
Other
October 2010
Page 10View entire presentation