• NAME OF RESEARCH

    Georgia’s economic specialisation: Present and future

  • NAME OF AUTHOR

    German Economic Team Georgia

  • CATEGORY

    Economy

  • YEAR

    2015-04-09

  • Download PDF

Georgia’s economy is mainly specialised in transport and travel services, agricultural products and some metal and chemical products. Increasing export volumes, also to close the trade and current account deficits, entails specialising in more and new products. Georgia has potential to specialise in four major areas in future: energy-intensive products, agri-food products, manufacturing and business services. These predictions are made by quantitatively using the experience of other countries.

In the report,  empirical method is isued to predict Georgia’s potential for economic specialisation in a range of areas of economic production, using a large, international dataset of 180 countries and their specialisation in more than 1,000 goods and services. Firstly, it is analyzed the current export specialisation of Georgia.Then is explained the method for predicting future potential and present the results of this prediction before finally turning to policy implications of these results.