Real GDP revised up 5.0% y/y in 2017
GDP growth in Georgia came in at 5.0% in 2017 revised up from 4.8% rapid estimate figure, according to GeoStat. Fastest growing sectors in 2017 were: construction (+11.2% y/y), hotels and restaurants (+11.2% y/y), financial intermediation (+9.2% y/y), and mining and quarrying (+7.1% y/y), while real growth was down in agriculture (-2.7% y/y).    

Exports up 25.0% y/y in February 2018
In February 2018, exports increased 25.0% y/y to US$ 223.7mn, imports were up 8.7% y/y to US$ 640.0mn and the trade deficit widened 1.5% y/y to US$ 416.4mn, according to GeoStat. 
In February 2018, copper (+62.3% y/y), cars (+162.1% y/y), ferro-alloys (-25.4% y/y), wine (+30.8% y/y) and fertilizers (+283.7% y/y) were the top 5 exported commodities. A 30.5% of exports was directed to the EU (+40.3% y/y), 42.1% were directed to the CIS (+46.9% y/y) and 27.4% to other countries (-7.4% y/y).
Petroleum (+10.6% y/y), gases (-5.3% y/y), copper (-4.4% y/y), cars (+9.1% y/y) and pharmaceuticals (-14.2% y/y) represented the top 5 imported commodities in February 2018. 

Producer price index down 0.9% m/m and up 6.0% y/y in February 2018
PPI for industrial goods was down 0.9% m/m in February 2018, according to GeoStat. A 1.0% price decrease for manufacturing contributed the most to the overall index change. Annual PPI was up 6.0% in February 2018. Rising prices in manufacturing (+5.1% y/y) contributed the most to the overall index change. Prices were also up for supply of electricity, gas and water (+11.6% y/y).

Fitch revises Georgia’s Outlook to positive
On 16 March 2018, Fitch affirmed Georgia’s sovereign credit rating at BB- and revised the Outlook to positive from stable. The upgrade in outlook reflects the key rating drivers including a stable macroeconomic environment, improvement in current account deficit and favourable governance and business environment indicators.

EU plans to invest EUR 4.1bn in Georgia
On 21 March 2018, EU held a regional launch event in Tbilisi as part of implementation of External Investment Plan (EIP). Under this instrument EU will invest EUR 4.1bn (GEL 12bn) over 2018-2020 in Georgia. At initial stage, funding will be directed in sustainable energy and connectivity, MSMEs, agriculture, sustainable cities and digitalization.