Georgia's agricultural sector – Uncover the potential
Due to huge potential Georgia’s agricultural sector has always been interesting. Throughout last several years multiple projects have been launched by the government to support development of the field, which sparked local business and foreign investments. For several years Agriculture and its related fields have remained top priority for the economic development of the country, support of the industry is increasing and the growth is steady.
Georgia’s Agricultural production delivered strong growth in 2014 and 2015, which was accompanied by increase in import and export, numerous agricultural support programs and promising inflows in FDI. However there’s still a large room for sector growth.
The Georgian government is continuing to support the agricultural sector with unprecedented projects:
Small Farmers Assistance Project is a government initiative aimed to aid rural population to develop into small farms by providing means to purchase agricultural goods and help with the cultivation. In 2013 710,000 farmers participated in the project and around 800,000 in 2014.
Project: Financing Processing Companies while working on Concessional Loan Program 40 under financed regions were identified and 0.2-1.0 mln US dollars was allocated to each within the framework of grant program aimed at financing 50-62 processing enterprises.
Concessional loan Program provides financing to commercially viable projects in wine making, livestock and poultry raising, construction of warehouses, grain dryers, and greenhouse farming projects. Around 264 mln GEL was issued in 2014.
Industry Specific Data
|Trade Balance expressed in thousand U.S. Dollars||2014||2015|
|Food and Drink||1 164 911,7
||1 157 494,7
|Total||1 298 099,1
||1 295 780,0