Asian Development Bank and Georgia: Fact Sheet

Abstract

Updated yearly, this ADB Fact Sheet provides social and economic indicators on Georgia as well as concise information on ADB's operations in the country and contact information. Georgia is a small open economy strategically located at the crossroads of Europe and Asia and is an important nodal point for regional trade flows. In recent years, the Government of Georgia has successfully implemented deep and far-reaching economic reforms, including in the areas of anticorruption, social welfare, business environment, and fiscal management. As a result of improved competitiveness and of an extensive privatization program, cumulative net Foreign Direct Investment (FDI) (2004–2010) as percent of gross domestic product (GDP) is forecasted at about 62%, with FDI reaching almost all sectors of the economy. In 2004–2009, GDP grew at 5.9% on average, generating an increase of about 32.3% in real GDP.