From October 3 to 5, ISET Policy Institute and Leibniz Institute of Agricultural Development in Transition Economies (IAMO) hosted a three-day International Conference. The conference was jointly organized by ISET and IAMO and titled “Improving the Functioning of Agri-Food Value Chains in the South Caucasus Region”.
According to GeoStat’s preliminary estimates in the second quarter of 2024, Georgia’s nominal GDP reached GEL 22,101.7 million, with a year-over-year real GDP growth of 9.6% and a GDP deflator change of 2.5%. The growth was driven by significant increases in value-added across various sectors: Accommodation and food service activities rose by 35.7%, Education by 21.3%, household activities as employers and producers of goods and services for personal use by 17.3%, Transportation and storage by 16.1%, Public administration and defense, including social security, by 13.3%, and Construction by 13%.
Increases in food prices and their volatility are global challenges, particularly affecting import-dependent developing countries where spending on food is relatively high. While major concerns regarding price dynamics and volatility are typically driven by the physical availability and financial accessibility of food.
For the countries in the South Caucasus, health hidden costs amount to 87%, 88%, and 92% of the total quantified hidden costs of agri-food systems. In terms of the share in GDP, they subsequently comprise 18%, 16%, and 22%, respectively.
An international workshop on agricultural value chains in the South Caucasus region will take place in Tbilisi, Georgia, from 3 to 5 October 2024. Contributions can be submitted from now on.