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The region of present day Georgia contained the ancient kingdoms of Colchis and Kartli-Iberia. The area came under Roman influence in the first centuries A.D., and Christianity became the state religion in the 330s. Domination by Persians, Arabs, and Turks was followed by a Georgian golden age (11th-13th centuries) that was cut short by the Mongol invasion of 1236. Subsequently, the Ottoman and Persian empires competed for influence in the region. Georgia was absorbed into the Russian Empire in the 19th century. Independent for three years (1918-1921) following the Russian revolution, it was forcibly incorporated into the USSR in 1921 and regained its independence when the Soviet Union dissolved in 1991.

Location

Southwestern Asia, bordering the Black Sea, between Turkey and Russia, with a sliver of land north of the Caucasus extending into Europe; note - Georgia views itself as part of Europe; geopolitically, it can be classified as falling within Europe, the Middle East, or both

Natural Resources

timber, hydropower, manganese deposits, iron ore, copper, minor coal and oil deposits; coastal climate and soils allow for important tea and citrus growth

Population - distribution

settlement coincides closely to the central valley, with emphasis on the capital city of Tbilisi in the east; smaller urban agglomerations dot the Black Sea coast, with Bat'umi being the largest

4630000
Georgian (official) 87.6%, Azeri 6.2%, Armenian 3.9%, Russian 1.2%, other 1%
TBILISI (capital) 1.147 million (2015)
Conventional long form
none
Conventional short form
Georgia
Local long form
none
Local short form
Sak'art'velo
semi-presidential republic
Name
Tbilisi
Geographic coordinates
41 41 N, 44 50 E
Time difference
UTC+4 (9 hours ahead of Washington, DC, during Standard Time)
accepts compulsory ICJ jurisdiction; accepts ICCt jurisdiction
Georgia's main economic activities include cultivation of agricultural products such as grapes, citrus fruits, and hazelnuts; mining of manganese, copper, and gold; and producing alcoholic and nonalcoholic beverages, metals, machinery, and chemicals in small-scale industries. The country imports nearly all of its needed supplies of natural gas and oil products. It has sizeable hydropower capacity that now provides most of its energy needs.
Inflation
2.131%
External debt stocks
US$ 14,853,531,000
Total tax rate (% of commercial profits)
16.4%
Real Interest Rate
8.322%
Manufacturing, value added (% of GDP)
12.555%
Current Account Balance
US$ -1,672,785,854
Labor Force, Total
2,033,600
Employment in Agriculture
50.89%
Employment in Industry
10.02%
Employment in Services
39.09%
Unemployment Rate
11.58%
Imports of goods and services
US$ 8,474,503,148
Exports of goods and services
US$ 6,232,135,590
Total Merchandise Trade
65.24%
FDI, net inflows
US$ 1,571,048,773
Commercial Service Exports
US$ 3,065,885,656
citrus, grapes, tea, hazelnuts, vegetables; livestock
steel, machine tools, electrical appliances, mining (manganese, copper, gold), chemicals, wood products, wine
Commodities
vehicles, ferro-alloys, fertilizers, nuts, scrap metal, gold, copper ores
Partners
Azerbaijan 10.9%, Bulgaria 9.7%, Turkey 8.4%, Armenia 8.2%, Russia 7.4%, China 5.7%, US 4.7%, Uzbekistan 4.4% (2015)
Commodities
fuels, vehicles, machinery and parts, grain and other foods, pharmaceuticals
Partners
Turkey 17.2%, Russia 8.1%, China 7.6%, Azerbaijan 7%, Ireland 5.9%, Ukraine 5.9%, Germany 5.6% (2015)
Country Risk Rating
C
A very uncertain political and economic outlook and a business environment with many troublesome weaknesses can have a significant impact on corporate payment behavior. Corporate default probability is high.
Business Climate Rating
B
The business environment is mediocre. The availability and the reliability of corporate financial information vary widely. Debt collection can sometimes be difficult. The institutional framework has a few troublesome weaknesses. Intercompany transactions run appreciable risks in the unstable, largely inefficient environments rated B.
  • Rich in agricultural and mineral resources
  • International support, notability from the EU
  • Strategic geographic position (transit point for oil and gas from the Caspian sea)
  • Democratic political system
  • Structural current account deficit
  • High levels of poverty
  • Internal political stability and uncertain relations with Russia

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