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and lead to a reversal of capital flows and weakening economic activity,” the report says.
In addition, “since the region is open to trade and is integrated into global supply chains, it would be vulnerable to a rise in global protectionism.”
For the region’s large energy exporting countries such as Kazakhstan, Russia, and Uzbekistan, it also notes that a weaker than expected energy price outlook would undermine their recoveries, while this could also generate negative spillovers to energy importers including Armenia and Georgia.
4.0 Real Economy 4.1 Industrial production
Industrial production rises 20.6% y/y in 4Q17
Georgia’s industrial production increased 20.6% in the fourth quarter of 2017, easing from a 21.8% growth in the previous period, according to the National Statistics Office of Georgia.
Production increased at a slower pace for both water supply sewerage, waste management and remediation activities (4% in 4Q17 from 12.4% in 3Q17) and electricity, gas, steam and air conditioning supply (9.8% in 4Q17 from 17.6% in 3Q17). Meanwhile, production increased faster for both mining and quarrying (29.1% in 4Q17 from 10.2 in 3Q) and manufacturing (24.8% from 24.3%).
Industrial production y/y in Georgia averaged 13.2% from 2000 to 2017.
15 GEORGIA Country Report July 2018 www.intellinews.com