, 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.)

Unemployment rate: officially less than 5% but real unemployment may
be more than 20%, with even larger numbers of underemployed workers

Budget:
revenues: $NA
expenditures: $NA, including capital expenditures of $NA

Exports: $NA
commodities: citrus fruits, tea, wine, other agricultural products;
diverse types of machinery; ferrous