In 2015 the volume of import in Georgia was USD 7728 million, while export was USD 2204 million. The negative trade balance composed USD 5524 million. This tendency is not new for Georgia and affects local economy. The problem came into light with darker colors since Georgian Lari started dramatic fall, against foreign currencies which contributed to growth of product prices. Lack of production still remains one of the main challenges for Georgia, which definitely is the main contributor to our dependence on import. Meanwhile there still are niches in Georgia,especially in food segment, which manages to cover local demand. High demand towards Made in Georgia
products is believed to give a signal to local entrepreneurs to develop local production.
According to official statistics, Georgians annually consume products worth over USD 1 100 000 000. 70 % of this product is imported.
“By purchasing Georgian food, we finance businesses and support people employed in enterprises. This means that business provides more money to state budget and it means that GDP of people increases and economy develops – this is a main formula of economical growth, – believes Tariel Zivzivadze, founder of Kar.ge Movement.
The full interview is coming up in Business Georgia July issue.