Georgia’s Economy Sectors with High Growth and Export Potential. 2024

Georgia’s Economy Sectors with High Growth and Export Potential. 2024

Georgia’s Economy Sectors with High Growth and Export Potential. 2024

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Georgia’s Economy Sectors with High Growth and Export Potential. 2024

July 31, 2024

The desk study detects sectors and subsectors in the Georgian economy where small- and medium-sized enterprises (SMEs) have established or potential opportunities for exporting to EU and European countries. It aims to identify sectors and subsectors where SMEs are best positioned to increase their exports, either by diversifying products and services or by penetrating new markets in Europe. 

The study was conducted using both quantitative and qualitative data collected from multiple sources. This included a desk review and data collection from statistical agencies and other publicly available sources, as well as from interviews with key informants.

The analysis compiled a comprehensive dataset covering 33 sectors of manufacturing and service provision. Among the sectors, six were identified as best positioned to enable SMEs to increase their exports.

Commissioned by the European Union and UNDP under the 'Inclusive Access to Markets' project, the study was prepared by ISET – International School of Economics. 

Key findings:
  • The manufacture of beverages sector received the highest score, 58%, primarily due to its strong performance in export competitiveness indicators. From 2020 to 2023, wine emerged as the primary export product, followed by mineral and aerated waters, waters containing added sugar, and then spirits distilled from grapes.
  • The transport sector, 56%, demonstrates positive performance in the dimensions of market demand and employment dynamics. Its high ranking in the market demand dimension is primarily driven by high and rapidly growing demand in the EU market.
  • The telecommunications, computer, and information services sector, 54%, secured the third position due to robust performance in the dimension of market demand.
  • The manufacture of wearing apparel sector, 53%, primarily due to its outstanding performance in export competitiveness.
  • Mining of metal ores sectors, 53%, demonstrating strong performance in export competitiveness and employment dynamics
  • The manufacture of basic metals sector, 50%, excels in the export potential and product diversification indicators.