ampshire Avenue NW, Washington, DC
20009

telephone: [1] (202) 387-2390

FAX: [1] (202) 393-4537

Diplomatic representation from the US: chief of mission: Ambassador
Kenneth S. YALOWITZ

embassy: #25 Antoneli Street, T'bilisi 380026

mailing address: use embassy street address

telephone: [995] (32) 989-967/68

FAX: [995] (32) 933-759

Flag description: maroon field with small rectangle in upper hoist
side corner; rectangle divided horizontally with black on top, white
below

Georgia Economy

Economy - overview: Georgia's economy has traditionally revolved
around Black Sea tourism; cultivation of citrus fruits, tea, and
grapes; mining of manganese and copper; and output of a small
industrial sector producing wine, metals, machinery, chemicals, and
textiles. The country imports the bulk of its energy needs,
including natural gas and oil products. Its only sizable internal
energy resource is hydropower. Despite the severe damage the economy
has suffered due to civil strife, Georgia, with the help of the IMF
and World Bank, has made substantial economic gains since 1995,
increasing GDP growth and slashing inflation. The Georgian economy
continues to experience large budget deficits due to a failure to
collect tax revenues. Georgia also still suffers from energy
shortages; it privatized the distribution network in 1998, and
deliveries are steadily improving. The country is pinning its hopes
for long-term recovery on the development of an international
transportation corridor through the key Black Sea ports of P'ot'i
and Bat'umi. The growing trade deficit, continuing problems with tax
evasion and corruption, and political uncertainties cloud the
short-term economic picture.

GDP: purchasing power parity - $22.8 billion (2000 est.)

GDP - real growth rate: 1.9% (2000 est.)

GDP - per capita: purchasing power parity - $4,600 (2000 est.)

GDP - composition by sector: agriculture: 32%

industry: 23%

services: 45% (1999 est.)

Population below poverty line: 60% (1999 est.)

Household income or consumption by percentage share: lowest 10%: NA%

highest 10%: NA%

Inflation rate (consumer prices): 4.1% (2000 est.)

Labor force: 3.08 million (1997)

Labor force - by occupation: industry 20%, agriculture 40%, services
40% (1999 est.)

Unemployment rate: 14.9% (1999 est.)

Budget: revenues: $437 million

expenditures: $626 million, including capital expenditures of $60
million (