Industries snapshot in Georgia before COVID-19
Economic activities in different sectors can define the development direction of the country. The industries in Georgia are going through the transformation and development in accordance with the international, as well as domestic market. In Emerging economies, industrial growth is reflected in achieving higher productivity, embracing new technologies, intelligent production processes and reducing the effects of industrial production on the environment and climate.
In order to better analyze and compare Economic industries internationally, it is a common practice to compare indexes. The Competitive Industrial Performance (CIP) index is a composite measure to benchmark industrial competitiveness across different economies, representing valuable information on countries’ strengths and weaknesses in national/local production. The CIP Index is widely used by international development agencies to rank countries within the context of their development priorities. The global manufacturing ranking is based on the analysis of eight indicators reflecting three dimensions:
- The capacity to produce and export manufactured goods
- The extent of technological deepening and upgrading
- The impact on the world market
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