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Georgia’s reputation as a business friendly country is growing after becoming the 6th best country in the world in terms of economic development and easy of doing business. Georgia has moved up again in the Doing Business Ranking of the World Bank to 6th place from 9th place last year. This means that Georgia is the most credible economy of Europe and Central Asia. It has maintained its strong position in Top 10 Economies”, said the Regional Director of the World Bank, Mercy Tembon yesterday at the press conference where together with the Prime Minister of Georgia Mamuka Bakhtadze, she announced the results of the new report. Bakhtadze said that such progress means “a tremendous step” made towards integrating Georgia’s country in the global economy and evidence that reforms implemented by the government of Georgia are successfully serving the economic development of the country. Bakhtadze also said that Georgia already is one of t... read more

A red dry wine Alaverdi Tradition’ produced by Georgian wine company Badagoni is among the top 100 wines of the world, announces Badagoni. ‘Alaverdi Tradition’ was named as one of the world’s best wines by the jury of the prestigious Sydney International Wine Competition, held in Australia this month. In the competition, wines from the most prominent wine-making countries were presented, and the jury consisted of wine experts from Australia, New Zealand, Switzerland, the USA, Canada, France and otheer countries.  The Sydney International Wine Competition taken place annually for almost 40 years now.  “Badagoni victory is truly a huge achievement, as the competition assessment criteria and process is quite difficult. Each wine had to go through several assessment phases. Regardless of the intense competition, Badagoni’s ‘Alaverdi Tradition’ managed to receive the award of a winner,” read the press release of Bad... read more

The Georgian economy grew 4% year-on-year in the third quarter of 2018 and 4.9% in the nine months of the current year, announces the National Statistics Office of Georgia (Geostat). The estimated real gross domestic product (GDP) growth rate in September 2018 was equal to 5.6% year-on-year, Geostat said. Last month estimated real growth compared to the same period of the previous year was posted in manufacturing, financial intermediation, trade, real estate, transport, hotels and restaurants. Various international financial institutions also have positive expectations for Georgia’s economic growth. In 2018, the World Bank predicts Georgia’s economic growth to hit 4.2 percent while the European Bank for Reconstruction and Development (EBRD) says Georgia’s economy will grow by 4.5 percent. The Asian Development Bank (ADB) raised Georgia’s 2018 growth forecast to 4.9 per cent from the April estimate of 4.5 per... read more

Protected areas in Georgia have hosted 974,827 visitors in January-September, which is a 14% increase in comparison to the same period of last year. More than half (52%) of total visitors were Georgians. The number of foreign visitors has shown a 27% increase y/y, the Agency of Protected Areas reported. The majority of foreign visitors were from Germany, Poland, Israel, Ukraine and Russia. As for the protected areas, the Prometheus cave is the most popular destination among visitors. Martvili Canyon, Kazbegi National Park, Okatse Canyon and Tbilisi National Park come next in the top five. ... read more

Georgia is strengthening trade relations with the European Union (EU), to where in January-September of 2018 exports from Georgia amounted to $533 million – 13.2% higher year-on-year. In the reporting period imports reached $1.95 billion (21.5% higher), show the data from the National Statistics Office of Georgia (Geostat). Overall, in January-September 2018, trade turnover with EU countries increased by 19.6% y/y and amounted to $2.48 billion. Trade with CIS countries In January-September 2018, the external trade turnover of Georgia with the Commonwealth of Independent States (CIS) countries totalled $3.10 billion – 29.2% higher compared to January-September 2017. Exports were worth $1.16 billion (47.2% higher) while imports equalled $1.94 million (20.3% higher). Georgia’s top trading partners in Jan-Sept 2018 Turkey ($1.12 billion), Russia ($879.8 million) and China ($727.3 million) were Georgia’s top trade partners in January-Se... read more

Georgia ranks 66th among 140 countries in the Global Competitiveness Index of 2018. In the index Georgia’s position has improved by one point in comparison to its standing in 2017. Georgia has a better standing in the rating than do Azerbaijan (69th place), Armenia (70th place) and Ukraine (83rd place). Russia came in 43rd, while Turkey ranked 61st.  The research shows that Georgia is the leader in the Eurasia region with respect to transparency. The top three places in Global Competitiveness Index of World Economic Forum go to the US, Singapore and Germany. ... read more

Georgia’s external trade grew by 20.8 per cent this year and reached $9.12 billion in January-September 2018, says the National Statistics Office of Georgia (Geostat). This year the value of Georgia’s exports increased by 25.7 percent to $2.44 billion, while the value of imports also increased 19.1 per cent to $6.67 billion with respect to January-September 2017, said Geostat. Georgia’s trade deficit equalled $4.22 billion this year, which was a 46.3 per cent share of the country's total trade turnover. Trade deficit is an economic measure of the negative balance of trade in which a country's imports exceed its exports. ... read more

Georgia’s three international airports served 3,920,771 passengers in the last nine months, which is a 22 per cent increase in comparison to last year, says the Georgian Civil Aviation Agency. The number of passengers who took regular or charter flights in Georgia increased in all three main airports of the country: Tbilisi Shota Rustaveli International Airport, Batumi International Airport and Kutaisi David Aghmashenebeli International Airport. More specifically: Tbilisi International Airport served 2,951,218 passengers - a 20.94% increase y/y Kutaisi International Airport served 450,417 passengers – 38.73% increase Batumi International Airport served 513,732 passengers – 19.94% increase Three airline companies – Turkish Airlines, Georgian Airways and Wizz Air – take an equal share of 11 per cent on Georgian market: Turkish Airlines – 440,060 passengers (11%) Georgian Airways – 433,805 passengers (11%) Wizz Air &... read more

Georgia has reached a historic high in terms of effectiveness of corruption control and governance, reveals the World Bank report ‘Worldwide Governance Indicators’. More specifically, Georgia scored 77.40 per cent on Control of Corruption 100 per cent scale - this figure is a historic high.  Georgia is among the leaders in the fight against corruption, and by this figure, it is ahead of 13 EU member states, such as Malta, Poland, Czech Republic, Latvia, Lithuania, Spain, Slovakia, Italy, Croatia, Hungary, Romania, Greece and Bulgaria. Georgia improved its position with regard to regulatory quality. Georgia earned 81.73 per cent in the 100 per cent scoring and is ranked 38th in the world in 2017. Georgia’s positions have improved in the Government Effectiveness and is ranked the 59th with 72.12 points. Georgia is ahead of the countries such as Hungary (63), Italy (64), Greece (71), Bulgaria (76), Serbia (83), Armenia (105), Azerbaijan (111), Romania (1... read more

Georgia exported about 60 million bottles of wine to 53 countries in the first nine months of 2018, announces the Georgian National Wine Agency. In January-September of 2018 Georgia generated about $142 million from the sale of wine abroad. Revenue increased by 22 per cent from January-September 2017, while the volume of exports increased by 13 per cent, said the Georgian National Wine Agency. Export growth was notable in the following countries: Japan – 68% percent increase (172,673 bottles) Poland – 32% increase (2,465,541 bottles) Great Britain – 22% increase (67,310 bottles) To European countries and the US: Romania – 390% increase (84,654 bottles) The Czech Republic– 69% (31,050 bottles) The Netherlands – 47% increase (60,309 bottles) Germany – 22% increase (349,216 bottl... read more