[60], Among other largest sources of remittances for Georgia are: Greece with USD 192.56 million in 2019, Italy - USD 239.17 million; the United States – USD 178.41 million; Ukraine - USD 47.3 million; Spain - USD 30.9 million; Turkey - USD 94.85 million; Kazakhstan - USD 26.63 million; the UK - USD 16.89 million; Israel - USD 162.55 million; Azerbaijan - USD 22.17 million; Germany - USD 49.81 million; France - USD 26.37 million; Canada - USD 14.21 million.[60]. From 2003 to 2011, FDI in Georgia amounted to US$8511.5 million. [77] Alexander Khetaguri, the former Georgian Minister of Energy, proposed new hydroelectric projects worth well over 22,000 megawatts of capacity, which would cost over US$40 billion and would be privately funded. Modernization of system of licenses and permits resulted in decrease of number of licenses and permits and simplification of related administrative procedures. [36] It has been decreased significantly after 11.2% in 2010. [26] In 2007, the World Bank named Georgia the World's number one economic reformer,[27][28] and has consistently ranked the country at the top of its ease of doing business index. In 2011, IMF estimated current account balance of Georgia was -1.489 BN USD. долларов 24.08.2011, Прямые иностранные инвестиции в Грузию в 2011г. There is a small Jewish community in Tbilisi as well as small numbers of Roman Catholics scattered throughout the country. supporting sustainable energy development, and attracting investment for energy projects of common and regional interest. The country's topography and abundance of hydro resources give it serious potential to dominate hydroelectric markets in the Caucasus region. The procedures for getting a construction permits was dramatically simplified and it requires just 3 procedures. Implemented institutional reforms created an effective, professional and transparent public sector, motivated to protect the principles of democracy. [99][100], The following table shows the monthly average for incoming tourists in Georgia by citizenship and number of visits (in thousands). Due to the economic deregulation policy, number of state regulated spheres sharply decreased, as well as regulation procedures were simplified. Success of Georgia is recognized by different rating agencies. Sources - What is a population pyramid? Georgian National Energy Regulatory Commission (GNERC), "World Economic Outlook Database, April 2019", "World Economic Outlook Database, October 2019", "World Economic Outlook Database, April 2020", "Poverty headcount ratio at national poverty lines (% of population) - Georgia", "Europe Central Asia Economic Update, Spring 2020 : Fighting COVID-19", "Employment to population ratio, 15+, total (%) (national estimate) - Georgia", https://www.geostat.ge/en/modules/categories/39/wages, "External Merchandise Trade 2019 publication 2020", "S& - Ratings Sovereigns Rating List - Americas", "Corruption Perceptions Index 2018 Executive Summary p. 9", "Emerging market growth index published by Bisignis Institute", "National Bank Of Georgiaინფორმაცია თქვენთვის", "Report for Selected Countries and Subjects", https://wits.worldbank.org/CountryProfile/en/Country/ARM/Year/2017/TradeFlow/EXPIMP/Partner/by-country, Transcript of a Conference Call on Georgia Request for Standby Arrangement, World Economic Outlook Database, April 2012, "Statement at the Conclusion of an IMF Mission to Georgia", "Economic environment of GEORGIA (COUNTRY)", Прямые иностранные инвестиции в Грузию в 2010 году составили 814 млн. Russia was traditionally the biggest export market for Georgian wine. [101], Georgia is one of the key members in international TRACECA programme due to its important geographical and political location. The declining birth rate in combination with increasing emigration is expected to continue into the foreseeable future, causing the population to continuously decline. 2011 wine export is 109% higher than 2007 exports. [80] In 2006 rapid growth in hydroelectricity output (by 27%) was matched by equally strong growth in thermal electricity (by 28%). During that period international financial institutions played a critical role in Georgia's budgetary calculations. Tensions ran high, however, as the Inguri hydropower plant provides nearly 40 to 50 percent of the country's electricity and is located at the administrative border of the Russian-occupied Abkhazia region. Nuts was exported in 53 countries. Population density for this country. [94] According to Ministry of Energy and Natural Resources, so far Georgia has been exploiting only 18% of its hydro resource potential.[84]. In recent years Georgia has fully deregulated its electricity sector, and now there is free and open access to the market. Rural population as a percentage of total population in Georgia was 48.2% in 2011 and decreased to 46.3% in 2014. Human Development Index is a composite statistic of life expectancy, education, and income indices used to rank countries into four tiers of human development. The current population of Georgia is 3,987,097 as of Wednesday, October 7, 2020, based on Worldometer elaboration of the latest United Nations data. выросли на 37% 16.08.2012, Грузинская экономика в 2012-2013 годах: цифры и тенденции, http://sputnik-georgia.ru/economy/20140317/216451370.html, http://www.apsny.ge/2015/eco/1439852233.php, http://www.apsny.ge/2016/eco/1471308614.php, "Doing Business 2012 - Doing Business in a More Transparent World - World Bank Group", http://www.globalpropertyguide.com/Asia/Georgia/property-rights-index, http://www.heritage.org/index/property-rights, Government press release on unemployment in 2007, https://www.google.am/publicdata/explore?ds=d5bncppjof8f9_&met_y=sp_pop_totl&idim=country:ARM:GEO&hl=en&dl=en, https://www.statista.com/statistics/440639/unemployment-rate-in-armenia/, http://www.minenergy.gov.ge/index.php?m=305, Russia and Georgia: economy as a battlefield, "Турция и Грузия покроются дамбами и ГЭС", http://documents.worldbank.org/curated/en/2003/12/3219271/revisiting-reform-energy-sector-lessons-georgia, New foreign investors are entering the Georgian market, Inter RAO UES begins importing energy from Georgia, https://www.nytimes.com/2009/01/14/world/europe/14georgia.html, http://www.eurasianet.org/departments/insightb/articles/eav011609e.shtml, Main Indicators of Agriculture Development, Arrivals of non-resident visitors at national borders of Georgia by country of citizenship, "Georgian Protests: Tbilis's Two-Sided Conflict", "Georgia's tourism industry breaks economic impact record | Georgia Department of Economic Development", http://www.jamestown.org/single/?tx_ttnews%5Btt_news%5D=43699&tx_ttnews%5BbackPid%5D=228#.VdyeFyV6TMw, http://cbw.ge/economy/seven-companies-are-selected-to-build-anaklia-port/, https://www.businesswire.com/news/home/20170801006198/en/Anaklia-Development-Consortium-Signs-Agreement-US-Based-SSA, http://bizzone.info/transportation/2015/1440444961.php, https://dnd.com.pk/btk-railway-track-becomes-operational-to-carry-chinese-goods-to-europe/134952, The Financial Systems of Financially Less Developed Asian Economies: Key Features and Reform Priorities, Official site of American Chamber of Commerce in Georgia, online English language business magazine in Georgia, Trade-Related Aspects of Intellectual Property Rights, Special administrative regions of the People's Republic of China, Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu, https://en.wikipedia.org/w/index.php?title=Economy_of_Georgia_(country)&oldid=982415003, World Trade Organization member economies, Articles with dead external links from September 2017, Articles with permanently dead external links, Articles containing potentially dated statements from 2010, All articles containing potentially dated statements, Articles with unsourced statements from January 2014, Articles with weasel words from August 2016, Articles with unsourced statements from July 2012, Articles with dead external links from December 2018, Creative Commons Attribution-ShareAlike License, steel, machine tools, electrical appliances, mining (manganese, copper, gold), chemicals, wood products, wine, vehicles, ferro-alloys, fertilizers, nuts, scrap metal, gold, copper ores, fuels, vehicles, machinery and parts, grain and other foods, pharmaceuticals, Active population (labour force), thousand persons, Gugushvili, Alexi: "Understanding Poverty in Georgia" in the, Officially the Republic of China, participates as ", This page was last edited on 8 October 2020, at 00:28.