IN Q1, GEORGIA’S LARGEST TRADE PARTNERS IN TERMS OF EXPORT WERE KYRGYZSTAN, RUSSIA AND KAZAKHSTAN

In January-March, combined share of Georgia’s 10 largest trade partner countries in total export of the country made up 79.3% (against of 80.9% for the same period of 2023), Sakstat reported (estimation).

The top three included Kyrgyzstan, Russia and Kazakhstan (instead of Armenia, Azerbaijan and Russia for the corresponding period of 2023). More...

IN Q1, GEORGIA’S EXPORT TO TURKEY DECREASED BY 7.4% Y-O-Y, IMPORT FROM TURKEY INCREASED BY 8%

In the 1^st quarter, Georgia’s commodity export to Turkey amounted to $97.17 million, decreasing by 7.4% year-on-year, Sakstat reported (estimation). In Georgia’s total exports, this country accounted for 7.3% (6^th position among Georgia’s trade partners) against of 7.2% for the same period of 2023. More...

IN Q1, GEORGIA’S EXPORT TO RUSSIA DECREASED BY 9.1% Y-O-Y, IMPORT FROM RUSSIA – BY 6.5%

In the 1^st quarter, Georgia’s commodity export to Russia amounted to $160.77 million, decreasing by 9.1% year-on-year, Sakstat reported (estimation). In Georgia’s total exports, this country accounted for 12.1% (2^nd position among Georgia’s trade partners), maintaining the share unchanged since the same period of 2023. More...

IN Q1, GEORGIA’S EXPORT TO CHINA DECREASED BY 51.9% Y-O-Y, IMPORT FROM CHINA INCREASED BY 9.6%

In the 1^st quarter, Georgia’s commodity export to China amounted to $64.12 million, decreasing by 51.9% year-on-year, Sakstat reported (estimation). In Georgia’s total exports, this country accounted for 4.8% (7^th position among Georgia’s trade partners) against of 9.1% for the same period in 2023. More...

IN Q1, RESIDENTIAL PROPERTY PRICE INDEX IN TBILISI INCREASED BY 13% Y-O-Y

In the 1^st quarter, the residential property price index (RPPI) in Tbilisi has increased by 13% compared to the same period of 2023, Sakstat reported. If compared to the 4^th quarter of 2023, RPPI has increased by 1.1%. More...

GEORGIAN ROADS DEPARTMENT: TUNNEL DRILLING COMPLETED ON KVESHETI-KOBI HIGHWAY

As part of the Kvesheti-Kobi road construction project, drilling of a tunnel connecting the village of Kvesheti with the village of Kobi was completed, Georgian Roads Department reported. The 15-m tunnel with a length of 9 km is the longest in Georgia, the Department noted. More...

GEORGIAN REVENUE SERVICE: IN Q1, 271 FACTS DETECTED OF STORAGE AND TRANSPORTATION OF TOBACCO PRODUCTS WITHOUT EXCISE MARK

In the 1^st quarter, 271 cases of storage and transportation of tobacco products without excise stamps were detected, Georgian Revenue Service reported.

As the Service specified, overall, 27,527 packs of cigarettes and 160 kg of unpacked tobacco were seized in the mentioned cases. More...

NBG FINED MICROFINANCE ORGANIZATION “BERMELI”

As a result of the audit, the microfinance organization Bermeli was fined with 40,000 lari, National Bank of Georgia (NBG) reported.

According to the NBG, 3 cases of incorrect submission of the requested information/documentation were recorded. More...

Forbes Georgia: “IN TERMS OF INCOME PER CAPITA, GEORGIA RANKS 78^TH IN THE WORLD”

According to the IMF, Georgia ranks 78^th among 191 countries in terms of average annual income per capita.

The ranking is based on actual data of 2023, according to which Georgia’s income per capita, adjusted to PPP (purchasing power parity), in 2023 amounted to $23,237. More...

Rezonansi: “IF ELECTRICITY CANNOT BE EXPORTED IN LARGE VOLUMES, HYDROELECTRIC POWER STATION WILL HAVE TO STOP WORK AND DRAIN WATER”

In 2023, a record volume of electricity was exported from Georgia – 1.47 billion kWh, which is 51% more than in 2022, and export revenues amounted to $103 million.

Georgian Ministry of Economy and Sustainable Development forecasts that this year, 800 million kWh will be exported from the country that is almost a half of last year’s showing. More...

Bankebi da Finansebi: “FIRST FLOATING SOLAR STATION COMMISSIONED IN GEORGIA”

In the village of Lemshveniera of Gardabani municipality (Kvemo Kartli region), Georgia’s first floating solar station was commissioned.

The plant is expected to generate 300,000 KWh annually, which will be used to irrigate the surrounding orchards. More...

Tabula: “IN CASE OF PASSING THE GROUP, “CARTU” PROMISES THE FOOTBALL TEAM 30M LARI”

For passing the subgroup at the European Championship, Cartu fund promises to pay the Georgian national football team 30 million lari as an award.

In addition, the fund will award the national team with 30 million lari for each subsequent victory at the European Championship. More...

AVERAGE HOTEL PRICES AND HOTEL PRICE INDEX IN GEORGIA (MARCH 2024)

In Georgia, the average cost of a room¹ in a 3-star hotel was 153 GEL per night in March 2024, while the average cost of a room in a 4-star hotel in Georgia was 247 GEL per night and the average cost of a room in a guesthouse² was 133 GEL per night.

The average cost of a room in a 5-star hotel in Georgia in March 2024 was 449 GEL per night. More...