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World Bank economists also point out that while Georgia has made considerable progress putting business-friendly policies in place — the country soared to ninth place on the latest Doing Business index — “political instability remains a significant challenge for firms”.
4.4.2 Retail sector dynamics
Retail sales rises 16.7% y/y in 1Q18
Retail sales in Georgia increased 16.7% y/y in the first quarter of 2018, compared to a rise of 21% y/y in the previous quarter, according to CEIC data.
In 2017, retail trade turnover reached GEL9,929.8mn, up from GEL8,101.9mn last year. Retail sales, which has been growing at a strong double-digit pace for several years, grew by only 8-9% in 2015-16 as wage growth slowed and unemployment rose.
Retail sales y/y in Georgia averaged 17% from 2000 to 2018.
20 GEORGIA Country Report August 2018 www.intellinews.com
