Georgia's Economic Outlook 2020
EXPOSURE TO PARTNER COUNTRIES WELL DIVERSIFIED
70
EXPORTS, TOURISM, FDI AND REMITTANCES, % OF
GDP
Source: Geostat, NBG, GNTA, Galt & Taggart
50%
50%
WELL DIVERSIFIED ECONOMIC LINKAGES, 2019
(EXPORTS, TOURISM, FDI AND REMITTANCES),
SHARE IN TOTAL
42.0%
40%
30%
20%
10%
0%
40%
30%
Source: Geostat, NBG, GNTA, Galt & Taggart
Other countries
27.4%
EU
25.0%
20%
9.4%
5.1%
10%
0%
China
3.0%
Ukraine
4.2%
Russia
16.6%
Armenia
7.0%
Azerbaijan Turkey
7.7%
9.1%
Turkey
Russia
Other countries
SUMMARY
In 2019:
The EU (38% of total) remains the largest source of remittances,
while Russia's share continue to decline (25% of total);
The EU remains Georgia's largest FDI provider;
Azerbaijan remains the top export market accounting for 13% of
the total;
Tourism sector demonstrated resilience to Russia's direct flight
ban strong growth of tourist arrivals from EU and other
countries fully compensated reduced Russian tourist in 2H19.
ECONOMIC LINKAGES BREAKDOWN
Source: Geostat, NBG, GNTA, Galt & Taggart
% of GDP, 2019
Total
Exports Tourism
FDI
Remittances
Total
21.3%
18.4%
7.1%
9.8%
56.6%
EU
4.7%
2.4%
3.4%
3.7%
14.2%
Russia
2.8%
3.9%
0.3%
2.4%
9.4%
Turkey
1.1%
2.1%
1.3%
0.5%
5.1%
Ukraine
1.4%
0.7%
0.0%
0.2%
2.4%
Azerbaijan
2.8%
1.2%
0.2%
0.1%
4.3%
Armenia
2.3%
1.5%
0.1%
0.1%
4.0%
China
1.3%
0.2%
0.2%
0.0%
1.7%
Other countries
4.9%
6.5%
1.6%
2.6%
14.0%View entire presentation