Georgia’s Economy is recovering and developing

Georgian Economy Minister Natia Turnava claims that the country’s economy is “recovering and developing.” She added: “We are witnessing the economic recovery, and foreign trade statistics confirm that. In March, we have a record increase in exports.

Georgia’s economy is developing

“Despite the great danger of the approaching third wave of the Coronavirus, we have very positive expectations for economic growth. Georgia’s economy is reviving and developing.” Natia Turnava added.

On April 13, the National Statistics Office of Georgia (Geostat) released a new report. The value of exports increased by 5.3% from January to March 2021 and reached $821.1 million. The report also noted that the External Merchandise Trade of Georgia amounted to $2,773.5 million from January to March 2021, which is 0.3% lower than last year.

The value of exports increased by 5.3% to $821.1 million, while the country’s imports decreased by 2.4% to $1,952.4 million.

The trade deficit was $1,131.4 million and its trade of turnover was 40.8%.

As Georgia’s economy emerges from the pandemic crisis, local entrepreneurship is vital to retain incomes and sustain jobs in rural regions. With funding from the Austrian Development Cooperation (ADC) and the Swiss Agency for Development and Cooperation (SDC), the United Nations Development Programme (UNDP) is assisting municipalities and local businesses across the country with a series of economic development initiatives.

Examples of this support were presented on April 2 at a regional fair in Rustavi Central Park, showcasing over 60 tourism-related business start-ups from seven municipalities of the Kvemo Kartli region. The display included crafts and goods produced by twenty-six women farmers, members of the UNDP-supportedKvemo Kartli Network of Women Entrepreneurs.

“After a year of lockdowns, Georgia’s regions are looking at possibilities to reopen for domestic visitors,” Chernyshovasaid. “We help local entrepreneurs to expand the touristic offer and build economic resilience over the pandemic and beyond.”

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