Despite this, structural changes in the economy, particularly a rise in information and computer service exports from 0.4% to 2.6% of GDP, helped offset the decline and propelled the economy’s overall potential. [...] These shifts are evident in the growth of Georgia's service exports, especially in the information, computer, and transport sectors, bolstered by an influx of skilled migrants and the country's enhanced role as a key transit hub in the Middle Corridor. [...] Specific currency movements in the second quarter of 2024 included a 2.6% depreciation of the GEL against the US dollar and a 1.7% against the euro. [...] Shipping costs, which spiked due to tensions in the Red Sea region at the end of the previous year, decreased steadily until the end of April but surged again in early May. [...] In the second quarter of 2024, Georgia saw an 4.6% increase in international visitors compared to the previous year, yet this was still 19.3% below the numbers seen before the pandemic.
Authors
- Pages
- 5
- Published in
- Georgia
Table of Contents
- MACROECONOMIC REVIEW Q2 2024 1
- SUMMARY 1
- Figure 1 - Real GDP Annual Growth Rate 1
- MACROECONOMIC REVIEW Q2 2024 2
- INFLATION 2
- 1.9 6.8 2
- MACROECONOMIC REVIEW Q2 2024 3
- Deposit interest rates 0.2 percentage points 10.3 2.4 Lending rates 1.94 percentage points 11.8 3
- EXTERNAL SECTOR TRADE TOURISM REMITTANCES FDI 3
- MACROECONOMIC REVIEW Q2 2024 4
- 4.6 19.3 8.1 USD 1091 million 4
- MACROECONOMIC REVIEW Q2 2024 5
- PUBLIC FINANCES 5
