mining of manganese and copper; and output of 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 internal energy resource is
hydropower. Despite the severe damage the economy has suffered due to
civil strife, Georgia, with the help of the IMF and World Bank, has
made substantial economic gains in 1995-97, increasing GDP growth and
slashing inflation. Georgia still suffers from energy shortages,
although energy deliveries are steadily improving. Georgia is pinning
its hopes for long-term recovery on the development of an
international transportation corridor through the key Black Sea ports
of P'ot'i and Bat'umi. The construction of a Caspian oil pipeline
through Georgia-scheduled to open in early 1999-should spur greater
western investment in the economy. A growing trade deficit, continuing
problems with corruption, and political uncertainties cloud the
short-term economic picture.

GDP: purchasing power parity-$8.1 billion (1997 est.)

GDP-real growth rate: 11.8% (1997 est.)

GDP-per capita: purchasing power parity-$1,570 (1997 est.)

GDP-composition by sector:
agriculture: 29%
industry: 16%
services: 55% (1997 est.)

Inflation rate-consumer price index: 7.1% (1997 est.)

Labor force:
total: 2.2 million (1996)
by occupation: industry and construction 31%, agriculture and forestry
25%, other 44% (1990)

Unemployment rate: 16% (1996 est.)

Budget:
revenues: $441 million
expenditures: $606 million, including capital expenditures of $54
million (1996 est.)

Industries: steel, aircraft, machine tools, foundry equipment,
electric locomotives, tower cranes, electric welding equipment,
machinery for food preparation and meat packing, electric motors,
process control equipment, trucks, tractors, textiles, shoes,
chemicals, wood products, wine

Industrial production growth rate: 8.1% (1997 est.)

Electricity-capacity: 4.558 million kW (1995)

Electricity-production: 7.1 billion kWh (1996)

Electricity-consumption per capita: 1,175 kWh (1995)

Agriculture-products: citrus, grapes, tea, vegetables, potatoes; small
livestock sector

Exports:
total value: $400 million (f.o.b., 1996 est.)
commodities: citrus fruits, tea, wine, other agricultural products;
diverse types of machinery; ferrous and nonferrous metals; textiles;
chemicals; fuel re-exports
partners: Russia,