2021 data: 6.4% of enterprises in Georgia introduce new or "significantly improved" goods

In 2021, 6.4 percent of enterprises in Georgia introduced new or "significantly improved" goods on the market, while the share of enterprises that introduced such services was 5.4 percent, the latest data published by the National Statistics Office of Georgia on Monday shows.

Geostat said 68.7 percent of goods and 73.5 percent of services had been "originally developed" by enterprises, while in other cases they had received support from other enterprises or institutions. 

It also noted 60.6 percent of the implemented innovations had been  new to the enterprises, while 39.4 percent had represented a novelty to the market. 

The structural percentage distribution of innovations of new or significantly improved business processes introduced by enterprises are presented in the chart below:

Image: Geostat.

Innovations of business processes in most cases (79.7 percent) were originally developed by the enterprises, while:

• 20.6 percent were developed with other enterprises or organisations
• 18.9 percent were developed by adapting or modifying innovations originally developed by other enterprises or organisations 
• 17.6 percent were developed by other enterprises or organisations

The report also shows 43 percent of enterprises preferred high quality while evaluating the strategies of the economic activities, while 32.3 percent focused more on improving existing goods and services. 

Geostat said in assessments of the business environment, the enterprises named price increase in goods and services as the main challenge "which leads to a loss of customers".