weekly economic digest · 2013. 5. 8. · 2,6% (by 57,4 million gel) and consti-tuted 2,3 billion...

1 April 22 - 26, 2013

Weekly Economic Digest Ministry of Economy and Sustainable Development of Georgia: www.economy.ge

Lali Gogoberidze Eter Mamukelashvili

Head of Economic Analysis and Policy Department [email protected]

Economic Analysis and Policy Department, Chief Specialist (+99599) 16 41 96

[email protected]

Contact Information:

Weekly Economic Digest

Ministry of Economy and Sustainable Development of Georgia

April 22 April 22 April 22 ––– 26,26,26, 201320132013

In January-March 2013, Georgian export encreased by 5% compared to the

previous year’s same indicator

In March 2013, the banking sector of Georgia finished with profit. The net profit

constituted 23 million GEL

Main Themes of the Week

Economic and Business News

Georgian Foreign Trade, January-

March, 2013

In January-March 2013, Georgian ex-

port encreased by 5% compared to the previous year’s same indicator.

According to the data of the National Statistics Office of Georgia, in January-

March 2013, Georgian foreign trade turn-over amounted to 2 144,4 million USD,

which is 5% less than the same figure for the previous year. Export increased by 5%

and reached 565,5 million USD, import – 1 578,9 million USD (decreased by 8% compared to January-March, 2012).

Motor cars are the main commodity in Georgian export, total volume of which

amounted to 140,5 mln. USD (24,8% of total export). Other important commodities

in Georgian export are ferro-alloys (12,0% of total export), mineral or chemical fer-

tilizers, nitrogenous (6,4%), other nuts, fresh or dried (3,2%), undenatured ethyl

alcohol, spirits, liqueurs and other spiri-

tuous beverages (3,1%), gold unwrought or in semi-manufactured forms (2,9%),

waters, natural or artificial mineral and aerated waters (2,8%), copper ores and

concentrates (2,7%), wine and fresh

grapes (2,4%), semi-finished products of iron or non-alloy steel (2,3%) etc. Main

trading partners by export were following countries: Azerbaizan, Armenia, United

States, Turkey, Ukraine, Bulgaria, Italy, Canada, Kazakhstan, Russia.

In January-March 2013, Turkey takes the

first position among the trade partners by turnover. In the mentioned period, foreign

trade turnover with Turkey amounted to 306,3 million USD (14,3% of whole

turnover). Export from Georgia to Turkey equaled to 37,2 million USD (6,6% of

whole export). Azerbaijan takes the second position among the trade partners

by turnover. In the mentioned period, foreign trade turnover with Azerbaijan

amounted to 296,9 million USD (13,8% of whole turnover). Export from Georgia to

Azerbaijan equaled to 143,5 million USD (25,4% of whole export). Ukraine takes

the third position among the trade

partners by turnover. In the mentioned period, foreign trade turnover with Ukraine

amounted to 157,4 million USD (7,3% of whole turnover). Export from Georgia to

2 April 22 - 26, 2013





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News

Ukraine equaled to 34 million USD (6% of

whole export).

Georgian foreign trade turnover with

EU countries amounted to 550 million USD (25,7% of total trade turnover).

Export amounted to 67 million USD (11,8% of total export).

Georgian foreign trade turnover with CIS

countries reached 717 million USD (33% of total trade turnover). Export amounted

to 299 million USD (52,9% of total export,

23% higher compared to the previous year’s same period).

In January-March 2013, share of 10 big-

gest trade partners (Turkey, Azerbaijan, Ukraine, China, Russia, Germany, United

States of America, Armenia, Romania, Bul-garia) in Georgian total foreign trade turn-

over amounted to 68%.

www.geostat.ge

Commercial Banks of Georgia

In March 2013, the banking sector of

Georgia finished with profit. The net profit constituted 23 million GEL. The

share of five banks having the largest as-sets within the total amount of the bank-

ing sector assets constituted 80,4%. Com-pared with the same period of previous

year, total assets of Georgian commercial

banks (in current prices) increased by 12,7% (by 1,6 billion GEL) and constituted

14,1 billion GEL. The banking sector's own funds (equity capital) equal to 2,5 billion

GEL, which makes up 17,9% of commer-cial banks' total assets. The share of for-

eign capital in banks' total paid-in capital constituted 74,3%.

As April 1, 2013, the banking sector in

Georgia is represented by 20 commercial banks, including 15 foreign-controlled

banks and three branches of non-resident banks.

www.nbg.ge

Commercial Banks’ Loan Portfolio

76,8% of the total volume of Georgian commercial bank lending to the legal

entities falls only on three sectors - industry, construction and trade. Out

of the total volume of lending to legal enti-ties, the biggest share falls on trade –

48,6%. Compared with the previous month, in March, 2013 the volume of

loans provided for trade increased by 2,6% (by 57,4 million GEL) and consti-

tuted 2,3 billion GEL. Share of loans pro-vided to the industrial sector constituted

19% of all loans to legal entities and amounted to 885,5 million GEL by April 1,

2013 (9%, 87,2 million GEL less compared

to March 1, 2013). 9,2% fall on construc-tion, amounting to 427,0 million GEL

(2,7%, 11,3 million GEL more, respec-tively). The volume of lending to resident

individuals increased by 2,3% (by 83,6 million GEL), during the March 2013 and

exceeded 3,7 billion GEL by April 1, 2013.

The volume of lending by commercial

banks (including loans to non-residents) in March, 2013, compared to the previous

month, increased by 0,9% (by 74 million

GEL) and exceeded 8,7 billion GEL by April 1, 2013. The volume of loans provided in

the national currency increased by 3% (by 84,7 million GEL) and the volume of loans

in a foreign currency decreased by 0,2% (by 10,7 million GEL).

By the end of March 2013, commercial banks issued to resident legal entities

852,0 million GEL worth of national cur-rency-denominated loans (2,5%, 20,9 mil-

lion GEL more compared to the previous month) and 3,8 billion GEL worth of loans

in a foreign currency (1%, 37,0 million GEL less compared to the previous

month).

www.nbg.ge

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3 April 22 - 26, 2013





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25/ 04/ 13 26/ 04/ 13 Change

NASDAQ 3,296.49 3,279.24 ▼ -0.52%

S&P 500 1588.61 1581.39 ▼ -0.45%

Dow Jones 14,741.68 14,718.00 ▼ -0.16%

Georgia's Eurobond (price) 117.69 117.80 ▲ 0.09%

Georgia's Eurobond (yield) 4.231 4.214 ▼ -0.4%

Source:

USD EUR GBP

26.04.13 1,6509 2,1572 2.5490

25.04.13 1,6578 2,1576 2.5325

24.04.13 1,6574 2,1528 2.5247

23.04.13 1,6565 2,1604 2.5240

22.04.13 1,6567 2,1676 2.5420

Source:

19/04/13 22/04/13 23/04/13 24/04/13 25/04/13 26/04/13

BRENT (DTD) (1 barrel) 88,24 88,39 88,12 89,77 91,53 93,16

Gold (1 oz) 1414,00 1425,00 1417,25 1424,50 1446,50 1462,25

Silver (1 oz) 23,66 23,60 23,01 22,91 23,30 24,02

Cooper (1 kg) 6,997 7,010 6,916 6,842 6,974 7,056

Source:

•

2006 2007 2008 2009 2010 2011 2012*

Nominal GDP (mln. GEL) 13789.9 16993.8 19074,9 17986,0 20743,4 24344,0 26138,9

Real growth of GDP 9,4% 12,3% 2,3% -3,8% 6,3% 7,2% 6,1%

GDP per capita (GEL) 3133.1 3866.9 4352,9 4101,3 4675,7 5447,1 5811,7

Source:

Economic Statistics

Main Macroeconomic Indicators

Yahoo Finance, Galt & Taggart Securities

National Bank of Georgia

MetalPrices.com, LBMA.org.uk, Yahoo Finance

National Statistics Office of Georgia

Indexes

Foreign Exchange Rates (GEL)

World Prices (USD)

In 2012*, nominal GDP of Georgia amounted 15 829,7 mln. USD, while in 2004 it amounted 5 125 mln. USD

*Adjusted evaluations will be published by end of November of 2013

* Datas for 2011 are preliminary

1.501.701.902.102.302.502.702.90

EUR USD GBP

4 April 22 - 26, 2013





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5 April 22 - 26, 2013





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6 April 22 - 26, 2013





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•2006 2007 2008 2009 2010 2011 2012*

Registered Export (FOB) 936,4 1232,1 1495,3 1133,6 1677,5 2189,1 2377,5

Registered Import (CIF) 3674,8 5212,2 6301,5 4500,2 5257,1 7057,8 7842,1

Turnover 4611,2 6444,3 7796,9 5633,9 6934,6 9246,9 10219,6

FDI in Georgia 1190.4 2014.8 1564,0 658,4 814,5 1117,2 865,2

Foreign dept of Georgia 1461,2 1540,6 2226,4 2694,4 3283,6 3607,8 3997,3

source :

(mln. USD) * Data for 2011 are preliminary

Foreign Direct Investments in Georgia in 2012 equaled to 865.2 mln.USD (preliminary data)

National Statistics Office of Georgia, National Investment Agency, Ministry of Finance of Georgia

* Data for 2012 are preliminary

499.1 449.8 1190.4 2014.8 1564.0 658.4 814.5 1117.2 865.2

9.7%7.0%

15.3%

19.8%

12.2%

6.1%7.0%

8.0%

5.5%

0%

5%

10%

15%

20%

25%

0

500

1000

1500

2000

2500

2004 2005 2006 2007 2008 2009 2010 2011 2012*

mln

. U

SD

Foreign Direct Investments

FDI FDI ration to GDP

Manufacturing, 22.2

Energy sector, 19.8

Financial sector, 18.0

Transports and

communications, 17.2

Real estate, 3.3

Agriculture, fishing, 2.8

Other sectors, 16.7

FDI by Economic Sectors (2012*, %)

141.7

87.5

87.1

72.7

66.8

0 50 100 150 200 250 300

Germany

Netherlands

Turkey

Azerbaijan

United Kingdom

Mln. USD

Top Investor countries 2012*

7 April 22 - 26, 2013





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2007 2008 2009 2010 2011 2012* 2013*

Revenues 4469,1 5517,7 4916,9 5421,5 6442,3 7158,3 7422,5

Taxes 3010,5 4541,5 4161,7 4592,4 5801,9 6300,0 6920,0

Social contributions 722,0

Grants 208,7 617,2 387,7 471,4 223,1 318,3 202,5

Other revenues 527,8 359,0 367,5 357,7 417,2 540,0 300,0

Remark: Datas for 2012 and 2013 are plans

Source:

2006 2007 2008 2009 2010 2011 2012

Reserve money 1272,1 1781,8 1642,1 1874,9 2081,1 2901,0 3255,1

Currency in Circulation 929,5 1310,5 1290,7 1457,9 1618,2 1753,6 1918,1

Source:

Georgian law about State Budget

Monetary Indicators

National Bank of Georgia

State Budget Revenues

(mln. GEL)

866.71007.4

1272.1

1793.81642.1

1874.92081.1

2901.03255.1

676.2811.4 929.5

1310.51290.7

1457.9 1618.2 1753.6

1918.1

0

500

1000

1500

2000

2500

3000

3500

2004 2005 2006 2007 2008 2009 2010 2011 2012

Tho

usa

nd

GEL

Reserve money Currency in circulation

3139.2

4469.1

5517.74916.9

5421.56442.3 7158.3 7422.5

-200

1800

3800

5800

7800

2006 2007 2008 2009 2010 2011 2012* 2013*

Mln

. GEL

8 April 22 - 26, 2013





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Ministry of Economy and Sustainable Development of Georgia

Weekly Economic Digest

Georgian Agency for Standards, Technical Regulations and Metrology

Ministry of Finance of Georgia

National Statistics Office of Georgia www.geostat.ge

www.geostm.ge

Ministry of Environment Protection of Georgia www.moe.gov.ge

Parliaments of Georgia www.parliament.ge

www.mof.ge

National Bank of Georgia www.nbg.gov.ge

Ministry of Agriculture of Georgia www.maf.ge

Ministry of Energy and Natural Resources of Georgia www.menr.gov.ge

Government of Georgia www.government.gov.ge

(+995599) 16 41 96 [email protected]

Useful Links:

Georgian National Investment Agency

Georgian National Tourism Administration www.gnta.ge

www.investingeorgia.org

Eter MamukelashviliChief Specialist of Economic Analysis and Policy Department

Georgia's profile www.georgia.gov.ge

Ministry of Economy and Sustainable Development of Georgia www.economy.ge

Lali GogoberidzeHead of Economic Analysis and Policy Department

(+99532) 299 11 14 la l [email protected]


weekly economic digest · 2013. 5. 8. · 2,6% (by 57,4 million gel) and consti-tuted 2,3 billion...

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