Georgia, which experienced a major economic crisis after the collapse of the Soviet Union, has become one of the countries attracting the most foreign capital in recent years with the effect of the open economy approach it put into effect in the 2000s. Georgia, which has a "Deep and Comprehensive Free Trade Agreement" with the European Union, has free trade agreements with 12 countries, including Turkey, and customs agreements with the USA, Canada, Norway, Switzerland and Japan. In recent years, Georgia has reduced its dependence on Russia for energy with various oil and gas pipelines, and has made significant economic gains by improving its trade routes with Asia and Europe with the Baku-Tbilisi-Kars railway line.
The service sector, which accounts for two-thirds of the country's income and one-third of employment, is the lifeblood of the Georgian economy. Agriculture and livestock breeding, which provide the livelihood of half of its citizens, is the largest area of employment. The most important agricultural products are tea, hazelnuts, various vegetables, grapes and citrus fruits. The most important industries are mining, iron and steel, furniture, chemicals and machinery.
According to 2018 data from the International Monetary Fund (IMF), Georgia has a national income of USD 16,324 billion, with a per capita income of USD 4,400, an unemployment rate of 12%, an inflation rate of 6% and a growth rate of 4.6%.
According to 2017 data, Georgia has a foreign trade volume of USD 10.6 billion (USD 2.7 billion in exports and USD 7.9 billion in imports) and its most important foreign trade partner is Turkey with a foreign trade volume of USD 1.5 billion. Other important foreign trade partners other than Turkey are Russia, China, Azerbaijan, Ukraine, Germany, USA, Armenia and Bulgaria.
