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...

Bankebi da Finansebi: ““TAX AMENDMENTS ALLOW US TO ATTRACT MORE CAPITAL, INVESTMENT, PROPERTY AND BE ATTRACTIVE TO INVESTORS””

This law allows us to attract more capital, more investment and more property to the country, Georgia’s Minister of Economy and Sustainable Development Levan Davitashvili says about the amendments to Georgian Tax Code.

According to Davitashvili, this is “an absolutely adequate law”. More...

Netgazeti.Ge: “HEALTHCARE MINISTER HAS THREE NEW DEPUTIES”

Georgia’s Healthcare Minister Mikhail Sarjveladze has three new deputies.

Irina Tsakadze and Giorgi Pataridze are Sarjveladze’s former employees from the time of his work in the Justice Ministry of Georgia. More...

Rezonansi: “FUEL PRICE STABILITY ACHIEVED IN RETAIL NETWORK”

“Now, there is stability on global oil-products’ markets, and similar situation is in Georgia too”, declares Vakhtang Iobashvili, head of Georgian Oil-Product Importers Union. “Large brand companies also said that stability has been achieved and no sharp changes are expected”, he says. More...

Tabula: “4 PERSONS DETAINED ON CHARGES OF ORGANIZATION AND ARRANGEMENT OF SO-CALLED CALL CENTERS – PROSECUTOR’S OFFICE”

On charges of organization of so-called call centers, 4 more members of an organized criminal group were detained, Georgian Prosecutor’s Office reported. The punishment envisages imprisonment for a term of 9 to 12 years. 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...