Prior to the global economic crisis, Georgia experienced unprecedented economic growth, with a 4-Year Average GDP Growth Rate of 10.5% before the crisis, reaching max of 12% in 2007. Despite recent slowdowns in GDP growth and Foreign Investment caused by the global financial crisis, Georgia’s real GDP growth rate was 6.4% in 2010.
This growth has been fueled by significant domestic and international investment. Since 2004, investors have privatized more than GEL 2 Billion of State assets. These new businesses have contributed significantly to job creation, domestic production and export development.
Georgia’s growth can also be contributed to its proactive integration into international markets, resulting in increased Foreign Trade Turnover, higher output levels, additional job creations, specialized services development, increased business opportunities and greater access to internal markets.
KEY SECTORS OF ECONOMY
Small and Medium Enterprises (companies with less than GEL 1.5 Million turnover) provide sustainable job creation and stable income generation since they make up more than 90% of companies in Georgia and represent 38.1% of salaried employees. These companies offer many investment opportunities due to their ability to grow and adapt to changing market conditions quickly.
Likewise, Large Enterprises (companies with more than GEL 1.5 Million turnover) offer additional investment opportunities, since these companies represent 84% of output and 86% of total market turnover.
Source: National Statistics Office of Georgia.