Opinion

The FINANCIAL -- Georgian silk production – an exhibit from the Georgian State Silk Museum in Tbilisi. Together with a unique library and a research institute, the museum is part of the “Caucasian Sericulture Station” founded by Nikolay Shavrov in 1887 to restore and promote traditional silk production, as well as related arts and crafts. Nowadays, the Museum is one of those rare places where you can see Georgian silk and hear about its history.

The FINANCIAL -- The average price of cooking one Imeretian Khachapuri currently stands at 3.46 GEL, which is 0.9% lower month-on-month, and 3.2% higher year-to-year. While the Index is primarily affected by the price of Imeretian cheese (the most expensive Khachapuri ingredient), during much of 2015 some moderating influence on the Index has been exerted by flour. 

The FINANCIAL -- During the last 12 months, the Georgian authorities have been conducting interesting experiments designed, so it seems, to test the resilience of domestic beer producers. In September 2014, the industry was hit by Article 171 of the Civil Code, prohibiting alcohol consumption in public places. The beer market, 97% of which is supplied by local producers, has immediately shrank by 22% (in physical volume, see chart), in annual terms.

The FINANCIAL -- The Georgian wine industry had a couple of very good years in 2013 and 2014, following the opening of the Russian market. Exports skyrocketed, prices of grapes followed suit. For all the talk about diversification, within just two years, Russia’s share in the total exports of Georgian wine shot up from 0 to almost 68%. 

The FINANCIAL -- In August 2015, the average cost of cooking one standard Imeretian Khachapuri in August 2015 was 3.49 GEL, which is 11.4 % higher month-on-month (m/m, that is compared to the previous month), and 7% higher year-on-year (y/y, that is compared to the same month of last year). 

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