Georgian domestic exports up by 19.6%
By Natalia Kochiashvili
Thursday, May 20
The National Statistics Office of Georgia (Geostat) released its unemployment report. According to the document, in 2020 the unemployment rate in Georgia increased by 0.9% to 18.5%. Statistics show that with the increase in unemployment, the number of economically active population has also decreased.
In 2020, the labor force (economically active population) accounted for 50.5% of the working age population (15 and older). Compared to the previous year, the labor force participation rate decreased by 1.3% and the employment rate decreased by 1.5 %. The level of labor activity decreased by 0.3% in urban-type settlements and by 2.6% in rural-type settlements compared to the previous year.
The 2020 Unemployment Report was developed by Geostat through a new methodology that no longer considers rural self-employed people who are not engaged in economic activity to be employed. Unemployment rates of previous years were also calculated accordingly. That is, if in 2019, according to the previous methodology, 11.6% of the population was unemployed in the country, as a result of the calculation of the new methodology, it increased to 17.6%.
Interestingly, as a result of the pandemic crisis in 2020, the unemployment rate in Georgia increased dramatically and more than 100,000 citizens received GEL200 compensation from the state. On this background, the 0.9% rise in unemployment may seem inaccurate to some.
According to Soso Berikashvili, Dean of the Caucasus University School of Economics, the fact that the statistics show an increase in unemployment by only 0.9% and not more, does not mean that the number of unemployed people has not increased significantly.
“The number of unemployed people, i.e. the number of people who consider themselves unemployed and are looking for a job, should be correlated to the active population, the number of which has decreased especially in the village. Unemployment in the village is reduced as the active population goes out of business, losing jobs and no longer looking for new ones. They are no longer considered unemployed, they are simply leaving the workforce,” Berikashvili said, noting that the methodology of counting the unemployed is such by the world standard, it “does not give us a realistic picture.”
Geostat also reported Georgia’s export-import data in 2021. Overall, Georgia’s external trade turnover amounted to $3.92 billion in January-April 2021, which is 12.8% higher compared to the same period of the last year.
Geostat preliminary data indicates that Turkey ($594.9 million), Russia ($476.2 million) and China ($425.6 million) are Georgia's top trading partners in total external trade turnover in January-April 2021.
Statistics show that exports amounted to $1.2 billion, which is 19.6% more than in the same period of 2020. This year, Georgia's exports to the EU amounted to $ 276 million, which is 55% more than in 2020. With this indicator, the EU accounted for 23% of Georgia's total exports.
During the first 4 months, the top 10 products exported by Georgia were Copper ores and concentrates, Cars (re-export), Ferroalloys, Wines, Alcoholic beverages, Mineral and Freshwater, Nitrogen Fertilizers, Nuts, Medications and Knitted garments.
In the reporting period Georgia's top trading partners by exports were China ($198.7 million) - an increase of 53% over the previous year mainly due to the increase in exports of copper ores and concentrates, Russia ($159.6 million - an increase of 26.8%) and Azerbaijan ($152.2 million - an increase of 2.6%).
Top trading partners by imports were Turkey ($490.5 million), Russia ($316.6 million) and China ($227 million). Overall Georgia's imports amounted to $2.7 billion, which is 10% more than in the same period of 2020. The products include Cars, Oil and Petroleum Products, Copper ores and concentrates, Natural gas, Medications, Telephones, Trucks, Tunnel digging machine, Electricity, Buses and minibuses.
