Economic Overview
Although tourism is its main industry, Abkhazia boasts abundant agricultural resources, primarily citrus fruit, tobacco, tea, and timber. It also has energy resources with coal mines and hydro-electric plants. Abkhazia's economy is heavily reliant on Russia and the ruble is the main currency. Russia and Turkey are its leading trading partners. Although economic sanctions and years of military conflict with Georgia have devastated the Abkhazian economy and prevented foreign direct investment, the recent easing of trade restrictions has allowed for rapid growth, and the number of tourists to Abkhazia nearly doubled between 2006 and 2007. Fishing and the construction industries are also growing rapidly The country is expected to be a major beneficiary of tourism and construction activities related to the Winter Olympics scheduled in nearby Sochi in 2014.
