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PROFILE: GEORGIA



A Few Tips for Doing Business in Georgia

  • Primary language is Georgian.

  • People are typically very hospitable.

  • Guests are considered a gift.

  • Age, position and power usually earn respect.

  • Normal greeting is shaking hands.

  • Business culture is not formal.

  • Maintain eye contact when meeting people.

  • Business cards are exchanged without formal ritual.

  • Relationships in business are important.

  • People are direct.

  • Table manners are relaxed.

  • Patience is important in business.

  • Decisions are made by upper management.

Brief History

  • Over the centuries, the country of Georgia has been dominated by several empires such as Rome, Persia, the Ottomans and the Soviet Union. From 1918 to 1921, the country was independent and then was forcibly incorporated by the USSR. It then became independent again in 1991, when the Soviet Union was broken up. For several years, Georgians were affected by a series of corrupt leaders.

  • Georgia is located in Southwest Asia, bordering the Black Sea, between Turkey and Russia, with a sliver of land north of the Caucasus Mountains.

  • Georgians view themselves to be part of Europe geopolitically.

General Information

  • Government: Semi-presidential republic

  • Capital City: Tbilisi

  • Literacy Rate: 99.56%

  • Size: Slightly larger than West Virginia

  • Population: 4.9M (2022 est.)

  • Population Growth Rate: 0.03% (2022 est.)

  • Population Distribution: Population concentrated in the central valley, particularly in Tbilisi in the east. Smaller urban concentrations on the Black Sea coast.

Economy

  • Unemployment Rate: 10.66% (2021 est.)

  • Currency Exchange Rate: 1 US Dollar = 2.60 Georgian Lari (February 25)

  • GDP: $17.694B (2019 est)

  • GDP Growth Rate: 10.47% (2021 est.)

  • Labor Force Breakdown: Agriculture - 8.2%, Industry - 23.7%, Services - 67.9% (2017 est.)

  • Major Industries - Agriculture (fruits, vegetables, dairy), steel, machine tools, electrical appliances, mining (manganese, copper, gold), chemicals, wood products, wine.

International Trade

Total Product Exports - $3.92 B (2020)

Major Product Exports (2020)

  • Copper Ore - $828M

  • Cars - $403M

  • Ferroalloys - $250M

  • Wire - $212M

Major Export Partners (2020)

  • China - $499M

  • Russia - $460M

  • Azerbaijan - $441M

  • Bulgaria - $393M

  • Turkey - $228M

Total Product Imports (2020)- $8.72B

Major Product Imports (2020)

  • Cars - $717M

  • Refined Petroleum - $540M

  • Packaged Medicines - $351M

  • Petroleum Gas - $317M

  • Copper Ore - $256M

Major Import Trading Partners (2020)

  • Turkey - $1.48B

  • Russia - $1.05B

  • China - $974M

  • US - $629M

  • Azerbaijan - $490M

English Language Online News Sites

Sampling of Companies

  • Georgia International Group – conglomerate - energy, real estate, mining etc. - www.gig.ge - Tbilisi

  • Georgian Oil and Gas Corporation - oil & gas - www.gogc.ge - Tbilisi

  • JSC RMG Copper - copper and gold mining - www.richmetalsgroup.com - Tbilisi

  • Kutaisi Auto - automotive parts - www.gig.ge - Kutaisi (Note: Part of Georgia Industrial Group)

  • Rustavi Steel - iron and steel - www.rmp.ge - Rustavi

  • Tbilisi Aircraft Manufacturing – aerospace - www.tam.ge - Tbilisi

  • TAM Management (TAMM) – aerospace - www.tam.ge - Tbilisi

  • Wissol Petroleum - oil & gas exploration and production - www.wissol.ge - Tbilisi

  • Georgian International Airlines – airlines - www.avia.ge - Tbilisi

  • Badagoni – wine - www.badagoni.com - Akhmeta

  • Baramba Ltd. confectionery products - www.barambo.ge - Natakhtari

  • STC Delta – defense - ammunitions, small arms, artillery - STC Delta - Tbilisi

National Holidays - 2023

  • January 1 - New Year's Day

  • January 2 -New Year's Holiday

  • January 7 - Orthodox Christmas Day

  • January 19 - Orthodox Epiphany

  • March 3 – Mother’s Day

  • March 8 - International Women's Day

  • April 9 - Independence Restoration Day

  • April 14 - Orthodox Good Friday

  • April 15 - Orthodox Holy Saturday

  • April 16 - Orthodox Easter Sunday

  • April 17 - Orthodox Easter Monday

  • May 9 - Victory Day

  • May 12 - St. Andrew's Day

  • May 26 - Independence Day

  • August 28 - Day of Assumption of Mary

  • October 14 - Svetitskhovloba

  • November 23 - St. George's Day


By Paul Mastilak

InterMark3, Inc.

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