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Economic
7%
40% 20% 0% -20% -40% -60%
In the second quarter of 2013, the growth rate of real GDP was 1.5%. This indicator is less than the
corresponding indicator in 2012 (8.2%), as well as than the same indicator in the first quarter of 2013 (2.4%).
It should be noted that in this period the growth rate of FDI,in comparison with the corresponding indicator in the previous year, was positive (1.5%) after the first quarter of 2012. There are changes in the main source of FDI and in its distribution to economic sectors.
4% 28%
Energy sector
20%
Manufacturing
31%
18% 5% 8% 18%
20% 25%
In the second quarter of 2013, the structure of economic sectors financed by foreign direct investment is the same as the general tendency of 2012, but the share of these sectors in total FDI is different.
In the second quarter of 2013, the largest shares of FDI were allocated in the following five economic sectors: energy sector (28%), manufacturing (25%), transports and communication (20%), construction (17%) and financial sector (6%).
It should be noted that foreign direct investment in restaurant and hotel sector was negative with 5.4% share in total FDI.
Reduction of the authorized capital of company or reduction the share of nonresidents, having a loss, distribution of dividends, payment of the loan and accrued interest can be considered as possible implication of negative FDI in restaurant and hotel sector. Although the reasons are ambiguous given the information above.
In the second quarter of 2013, foreign direct investment increased in comparison with the corresponding indicator in 2012 (1.5%), as well as in comparison with the same indicator in the first quarter of 2013 (12.7%).
9% 8%
Economic
Issue #11
M30.09.2013
Foreign Direct Investments by Countries (2012) Germany
48%
5% 6% 7% 9% 10% 15%
-48%
Other
In the second quarter of 2013 the structure of foreign direct investment by countries is different from the general tendency of 2012.
In the second quarter of 2013 five major investor countries were: Luxemburg (52%), China (34%), Netherland (28%), Turkey (16%) and Azerbaijan (10%). It should be noted that in the second quarter of 2013 several countries have negative FDI in Georgia. Cyprus (59%), United Kingdom (20%) and Japan (20%) have the major shares in nega-
tive FDI.
In the second quarter of 2013 the share of Negative FDI in total FDI was 80%.
Basic Economic Indicators
Nominal GDP in current prices (mln USD)
Per capita GDP (USD) GDP real growth, percent Consumer Price Index Foreign Direct Investment (USD) Unemployment Rate External Public Debt (mln USD) Poverty Level
2011
14 438 3 230.7 7.20% 8,5% 1 117
2012
15829.7* 3519.6* 6.1%* -0.9%* 865.2*
I12*
3388.3 753.4
6.70%
II12*
3918.3 871.2
8.20%
III12*
4156.1 924.1
7.50%
IV12*
4367.6
I 13*
3487.6
II 13*
3929.9
971.1
2.80%
777.8
2.40%
876.5
1.5%
Contact Information
PMCG Research
269.4
-
219.4
-
195.4
-
181
226.2
232.4
Tamar Jugheli
E-mail: t.jugheli@pmcg.ge T: (+995) 2 921171 www.pmcg-i.com
15.10% 4200.5
15% 4357.1
E-mail: research@pmcg.ge
9.20%
9.7%*
Source:
National Statistics Office of Georgia, Ministry of Finance of Georgia, National Bank of Georgia
*projected
-2-