Georgia shows highest economic growth among EaP countries
Baku, Azerbaijan, September 30
By Tamilla Mammadova – Trend:
Overall, during the last ten years, Georgia has witnessed the highest economic growth among the countries participating in the EU's Eastern Partnership, the Organization for Economic Co-operation and Development (OECD) told Trend.
"Last year Georgia's economy grew by approximately 5 percent after two years of slower growth (below 3 percent). Trade, construction and transport sectors drove the acceleration, underscoring the degree to which Georgia’s future prospects depend in part on improving connectivity and taking advantage of developments like China’s Belt and Road Initiative", said the organization.
"In 2014, the provisional free trade agreement between Georgia and the European Union took effect. Since then Georgia's exports to the EU markets have steadily increased, contributing to export growth of 22.6 percent in volume terms last year", the OECD said.
According to the OECD, in 2018, the number of tourist visits in Georgia rose by 16.9 percent to 4.8 million in total, and the tourism revenue of $3.2 billion accounted for 20 percent of Georgia's GDP.
1 USD=2.95 GEL on September 30