Georgian GDP of 2013 in figures
08 May, 2014
Georgian GDP of 2013 in figures
The Georgian economy grew with 3.2% in 2013 compared to 2012, the Policy and Management Consulting Group informed Georgian Journal. Agriculture and trade increased significantly, contributing to the real GDP growth 0.72 and 0.74 percentage points respectively. According to the PMCG research, in 2013 the real GDP increased 3.2% or GEL 463 million compared to the previous year. In 2013, the largest growth was noted in agriculture (9.8% or GEL134.4 million). Its contribution to the real GDP growth is 0.72 percentage
points. The construction sector was the largest failure and shrunk with -10.6% or lost GEL 124.3 million. This caused a reduction of the real GDP with 0.71 percentage points. Compared to a similar reported period in 2012, the industry increased with 6.9% or GEL 200.2 million. This sector made the largest contribution (0.96 percentage point) to the real GDP growth (3.2%).
Construction decreased significantly with 10.6% as a result of the slow-down of governmental projects in infrastructure. In 2013, the export made up the largest contribution in the formation of the GDP. It increased with 20.1% or GEL 2003.7 million compared to 2012. The export’s share in GDP increased likewise with 0.9 percentage points and equals 5.1%.
In 2013, the volume of final consumption and import stayed almost unchanged. The gross capital formation decreased by 12.2% or GEL 922.5 million as a result of the reduction of government investment. The growth rate of Foreign Direct Investments (FDIs) and real GDP have the similar trends. In 2012, FDI decreased by -20.1% or GEL 378.5 million thus negatively reflecting on GDP growth rate, which also slowed down by 1.0 percentage point in the same period and constituted 6.2%.
In 2013, although the volume of investments increased (1.1% or GEL15.8million) the growth rate of the GDP slowed down again (3.1 percentage point) compared to 2012. This may be due to the reduction of internal investments, PMCG analysts conjecture. In 2013, the production in agriculture increased with 9.8% compared to 2012. In this period, the share of agriculture in real GDP is 10.6%, while the corresponding indicator in 2012 is 10%. In 2013 there was a significant increase in farming animals (9.5% or GEL 96.3million), production of fruits, nuts, beverage and spice crops (for example: grapes)(27.5% or GEL 75.4 million), cereals and other crops (13.0% or GEL 36.9 million). The export of agriculture products also went significantly up (51.1% or GEL 435.4 million).
As the volume of construction decreased with 10.6% in 2013 compared to 2012, the share of construction in GDP also decreased from 8.6% of 2012 to 7.4% in 2013. This was in the aftermath of a significant decrease in infrastructural projects financed by the government (construction of motorways, roads, airfields and sport facilities) which shrunk by 39.4% or GEL 154.2 million. Meanwhile, the volume of FDIs in construction increased with 28.2% or GEL19.6 million in 2013 which may affect the volume of construction in 2014 positively, PMCG analysts forecast.

Print
Other Stories
The World Digital Mining Summit to be held in Georgia
The summit is scheduled to take place between 21st-23rd September in the Hualing Hotel, Tbilisi, Georgia.
Galt and Taggart - Tourism Boom Continues in Georgia
Tourism has become one of the key drivers for the Georgian economy. Galt and Taggart has recently published research about the Georgian tourism sector in the first half of 2018.
"The worst dream for Putin is that Russians want to live in Georgia"
This year, visitors to the Adjara region would notice that there is a boom in construction in and around Batumi.
Underground gas storage facility to be built in Georgia
KfW, a German government-owned development bank signed a EUR 150 million promotional loan with the state-owned Georgian Oil and Gas Corporation (GOGC) for the construction of the first underground gas storage facility in Georgia.
New gambling rules for Georgia
Georgian lawmakers are preparing a new draft law relating to online-casinos and gambling that will seek to curb gambling addiction in Georgia.
How expensive is it to visit Georgia?
The Georgian Lari (GEL) is the official currency of Georgia and is the only legal means of payment in the entire territory of Georgia.
Trade with the EU and the Commonwealth of Independent States (CIS) has grown significantly
Trade with the EU and the CIS has grown by 26% and 33.5 % respectively, says GeoStat, the Georgian National Statistics Office.
The unemployment rate decreases in Georgia
The unemployment rate decreased in Georgia by 1,9% and amounted to 12.1% in the 2nd quarter of 2018 compared with the previous quarter,
Memorandum of Understanding to be signed between Georgia and Malaysia
According to the Georgian Ambassador to Malaysia Nikoloz Apkhazava, Georgia plans to sign a Memorandum of Understanding (MoU) with Malaysia.
“Blauenstein Georgia” due to expand in Georgia
“Blauenstein Georgia” is planning to open more shops in Georgia. It is an agriculture company that sells meat products, meat and convenience food.
The amount of Direct Foreign Investment rises in Georgia
According to the information of the National Statistics Office of Georgia, the amount of direct foreign investment in Georgia has risen
It’s going to get  harder for foreigners to get residence permit in Georgia
It’s going to get harder for foreigners to get permit of residence in Georgia.
Mziuri Park in Tbilisi to be renovated soon
It was the dream of prominent Georgian writer Nodar Dumbadze that when the original Mziuri park was constructed and opened in 1892 that it should be a park for children,
Winemakers to produce Kvanchkara in its place of origin - Racha
Khvanchakara is a semi-sweet Georgian red wine which originates from Racha, in the western part of Georgia. Kvanchkara is made of two types of grape Mujuretuli and Aleksandrouli.
The level of Georgian wine and Chacha exported has increased
The National Wine Agency of Georgia has recently published statistical information about the level of Georgian wine and Chacha exported between January and July, 2018.
New fire engines to be Manufactured in Georgia
The Acting Head of the Emergency Management Agency Shalva Khutsishvili said that the old Zili fire engines (which were made in the USSR) will be phased out and replaced with new ones, manufactured in Georgia.
Georgia witnesses a record number of tourists
The Georgian National Tourism Administration publishes statistical information about international visits to Georgia.
Canadian businessman plans to build a hotel in Bakhmaro
Canadian businessman Vadim Malishev plans to build a hotel in Bakhmaro resort, Guria, in the western part of Georgia.
Coffee Factory will open in Tbilisi in October
The first coffee factory (which will be located on the Kakheti highway) in Tbilisi will open in October.
Places in Georgia where real estate is the most expensive
The real estate market in Georgia is growing annually. In Tbilisi as well as other regions of Georgia new developments are increasingly taking place.
How much does a vacation cost in Tbilisi?
It is the middle of summer and those who have not yet taken a vacation are looking for an appropriate place for sure!
The price for extreme sports in Georgia
Georgia offers a variety of options to extreme sport lovers.
The number of Georgians who own property abroad increases
The number of foreign properties owned by Georgians is increasing.
How much does Taxi cost in Tbilisi?
Stories how Taxi drivers try to deceive passengers and charge them with more money than they should pay are known for everybody all over the world.
What are the highest paid areas in Georgia
According to the data collected by the National Statistics Office of Georgia in the first quarter of 2018 the highest paid jobs in Georgia are found in the financial and insurance fields.
PHOTO OF THE DAY
Exchange Rates
GEL Exchange Rate
Convertor
21.09.2018
22.09.2018
USD
1
USD
2.6193
2.6216
EUR
1
EUR
3.0693
3.0854
GBP
1
GBP
3.4651
3.4584
RUB
100
RUB
3.9538
3.9340
Other Stories
Recently Toyota rolled out Global Campaign under this slogan that reflects the Olympic and Paralympic Spirit of Encouragement,
A couple from Switzerland combines Swiss tradition and technology with Georgian products. Their cheese is made in the Georgian mountains and sold in local stores and hotels.
It has been more than five years since the residents of Lilo village, near Tbilisi, cannot open their windows.
63 000 GEL was received by the Georgian Agro Export Group which is just a small part of the European Neighbourhood Programme for Agricultural and Rural development.
Georgian entrepreneur Guka Tavberidze, who runs his own business in the UK and does it quite well, has been invited by BBC
The grand opening of 7-star The Biltmore Hotel Tbilisi took place in Georgia’s capital on July 31.
DUSHETI, Georgia – The Georgian government and the World Bank will allocate USD 5.6 million (12 million GEL) to fund
A new Georgian clothing brand named Person has emerged in Georgian market.
Georgia is in the midst of an economic maelstrom, Euronews reports.
Situation at Georgia’s mineral water market is interesting: over the last year, the volume of export has grown by 56 percent. According to “GeoStat”, over $114 million worth of mineral water was sold
GEL Exchange
USD
1
USD
2.6216
EUR
1
EUR
3.0854
GBP
1
GBP
3.4584
RUB
100
RUB
3.9340