Member of: BSEC, CCC, CIS, EBRD, ECE, IBRD, ICAO, IDA, ILO, IMF, IMO,
INMARSAT, INTERPOL, IOC, IOM (observer), ITU, NACC, OSCE, PFP, UN,
UNCTAD, UNESCO, UNIDO, UPU, WHO, WIPO, WMO, WTO
Diplomatic representation in US:
chief of mission: Ambassador Tedo JAPARIDZE
chancery: (temporary) Suite 424, 1511 K Street NW, Washington, DC
20005
telephone: [1] (202) 393-6060, 5959
US diplomatic representation: chief of mission: Ambassador Kent N. BROWN embassy: #25 Antoneli Street, T'bilisi 380026 mailing address: use embassy street address telephone: [7] (8832) 98-99-67, 93-38-03 FAX: [7] (8832) 93-37-59
Flag: maroon field with small rectangle in upper hoist side corner; rectangle divided horizontally with black on top, white below
@Georgia:Economy
Overview: Georgia's economy has traditionally revolved around Black Sea tourism; cultivation of citrus fruits, tea, and grapes; mining of manganese and copper; and a small industrial sector producing wine, metals, machinery, chemicals, and textiles. The country imports the bulk of its energy needs, including natural gas and oil products. Its only sizable domestic energy resource is hydropower. Since 1990, widespread conflicts, e.g., in Abkhazia, South Ossetia, and Mingreliya, have severely aggravated the economic crisis resulting from the disintegration of the Soviet command economy in December 1991. Throughout 1993 and 1994, much of industry was functioning at only 20% of capacity; heavy disruptions in agricultural cultivation were reported; and tourism was shut down. The country is precariously dependent on US and EU humanitarian grain shipments, as most other foods are priced beyond reach of the average citizen. Georgia is also suffering from an acute energy crisis, as it is having problems paying for even minimal imports. Georgia is pinning its hopes for recovery on reestablishing trade ties with Russia and on developing international transportation through the key Black Sea ports of P'ot'i and Bat'umi. The government began a tenuous program in 1994 aiming to stabilize prices and reduce large consumer subsidies.
National product: GDP - purchasing power parity - $6 billion (1994 estimate as extrapolated from World Bank estimate for 1992)
National product real growth rate: -30% (1994 est.)
National product per capita: $1,060 (1994 est.)
Inflation rate (consumer prices): 40.5% per month (2nd half 1993 est.)