This issue of “Economic Outlook and Indicators” analyses revenues from VAT, income, profit and excise taxes in the period of January-July 2013 in comparison with the indicator of the corresponding period in 2012. In July 2013, tax revenues increased in comparison with the indicator of July 2012 (0.9%).
In the second quarter of 2013, the dynamics of external trade turnover is similar to the dynamics of the same indicator in previous years. In the second quarter of 2013, the dynamics of external trade turnover was 2568.2 mln.USD, which is lower (-1.2%) than the corresponding indicator of previous year, but it exceeds the corresponding indicator of the first quarter 2013 (19.7%).
The following newsletter reviews Tax Revenues of Georgia in the period of January-June 2013 in comparison with the corresponding period of 2012, as well as 2011. In June 2013, the volume of Tax Revenues is lower than the same indicator in 2012 (-9.7%), as well as in comparison with the indicator of May 2013 (-3.7%).
The following newsletter reviews Tax Revenues of Georgia in the period of January- May 2013 in comparison with the corresponding period of 2012, as well as 2011. In May 2013, the volume of Tax Revenues is higher in comparison with the indicators of May 2012 (12.3%), as well as in comparison with May 2011 (4.7%).
Foreign Direct Investment (FDI) has positive impact on country’s economy. It contributes to the improvement of living standards through increased productivity and production. Since 2012, quarterly dynamics of FDI is decreasing. In 2012, the volume of FDI was significantly lower in comparison with the corresponding indicator in 2011 (-23%).
Monthly dynamic of deposits of legal entities and individuals in commercial banks in the second part of 2012 had decreasing trend. The growth rate of deposits slowed down in the second part of 2012 compared to the corresponding period of 2011.
The following newsletter reviews tax revenues of Georgia in the first quarter of 2013 in comparison with the corresponding period of 2012 and 2011 years. It covers the taxes, which have the highest shares in the overall tax revenues: VAT (42.7%), Income (27.8%) and Profit (16.5%) ones.Tax revenues increased, but in a small rate (4%), in the first quarter of 2013 compared to the corresponding period of 2012.
External trade had increasing pattern since 2009. In 2012 the volume of external trade of Georgia reached 10, 220 mln USD with 10.5% growth rate. The share of import volume in 2012 trade increased (77%) and the share of export volume decreased (23%) compared to the corresponding indicators for 2011 (76%, 24%).
Similar to the previous years, VAT and Income Tax were the most important sources for the formation of 2012 budget revenues (45%, 26.5%). During the period of 2007-2012 the growth of tax revenues followed the growth of Nominal GDP. The average inflation rate had similar pattern too.