In May 2023, Georgian power plants generated 1,325 mln. kWh of electricity. This represents a 9% decrease in the total generation compared to the previous year (in May 2022, the total generation was 1,461 mln. kWh). The decrease in generation on a yearly basis comes from a fall of 9% in Hydro and 6% in wind power, while thermal power generation increased by 89%.

The global economy remains in a volatile state amid the prolonged effects of the combined negative shocks of the pandemic, Russia’s invasion of Ukraine, high inflation, and the tightening monetary policy. Although the global economy remained resilient at the beginning of the year, the situation is expected to worsen.

In June 2023, the National Statistics Office of Georgia issued its annual publication on the agricultural sector – Agriculture of Georgia 2022. The publication estimates that agriculture, forestry, and fishing comprised 7.5% of the GDP (constant prices) in 2022, which is lower than the 8% share in 2021, but in line with general trends over the last few years (agricultural GDP being 7-8% of GDP on average).

In April 2023, Georgian power plants generated 1,249 mln. kWh of electricity. This represents an 11% increase in the total generation compared to the previous year (in April 2022, the total generation was 1,125 mln. kWh). The increase in the generation on a yearly basis comes from an increase of 181%, 38%, and 5% in thermal, wind, and hydropower generation, respectively.

On 27 June 2014, Georgia and the EU signed the Association Agreement (AA), including the Deep and Comprehensive Free Trade Agreement (DCFTA), which fully entered into force on 1 July 2016. The goal of the DCFTA is to provide a framework for new trade opportunities, enhance competitiveness in the business sector, and support closer economic integration between Georgia and the EU based on reforms in trade-related fields.