Georgia


Georgia Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Georgia; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank National Bank of Georgia
International Reserves US$ 2.818 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 15.984 billion (2010 estimate)
GDP (Purchasing Power Parity) 26.348 billion of International dollars (2010 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
4.7% 5.5% 11.1% 5.9% 9.6% 9.4% 12.3% 2.3%
2009 2010 2011 2012*
-3.8% 6.3% 7% 6%

*Estimate

GDP per capita - current prices US$ 3,597 (2009 estimate)
GDP per capita - PPP $5,929 International Dollars (2009 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
N/A N/A 0.02% 0.03% 0.03%

**Forecast

GDP - composition by sector
  • agriculture: 10% 
  • industry: 29.4% 
  • services: 60.6% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
1.7%(2008) 7.1% 8.5% 1.7%

*Estimate

Unemployment rate
2009 2010 2011 2012*
16.9% 16.3% 14.9%(2009) 14.1%

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
27.6% 37.3% 39.2% 33.9% 32.7%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-2% -6.5% -4.8% -0.9% -2%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BB-

Moody's rating: Ba3

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$733.3 million US$1.06 billion US$795.7 million
Largest companies in Georgia N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -1.6 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP -10.3% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

34.8% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.01%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.05% (2011)(2007)

(Data were released in 2012)

Total exports US$3.324 billion (2012 estimate) 
Export commodities vehicles, ferro-alloys, fertilizers, nuts, scrap metal, gold, copper ores
Total imports US$6.623 billion (2012 estimate) 
Import commodities fuels, vehicles, machinery and parts, grain and other foods, pharmaceuticals
Exports - major partners Azerbaijan 17.5%, Turkey 10.5%, Armenia 10%, Kazakhstan 7.3%, Ukraine 6.2%, US 5.5%, Canada 5.2%, Bulgaria 4.7% (2011)
Imports - major partners Turkey 17.8%, Ukraine 10%, Azerbaijan 8.3%, China 7.6%, Germany 6.9%, Russia 5.7% (2011)
FDI inflows
2009 2010 2011
US$658 million US$814 million(2009) US$975 million(2009)
FDI outflows
2009 2010 2011
US$-19 million US$135 million US$146 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
N/A N/A(2009) US$-0 million(2009) US$188 million
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 9 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 7 out of 185 countries(2009)

Enforcing Contracts: 30 out of 185 countries

Registering Property: 1 out of 185 countries

Getting credit: 4 out of 185 countries

Protecting investors: 19 out of 185 countries

Trading across border: 38 out of 185 countries

Paying Taxes: 33 out of 185 countries

Dealing with Construction Permits: 3 out of 185 countries

Getting Electricity: 50 out of 185 countries

Resolving Insolvency: 81 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
77

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 34 Score: 69.4 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+4
Total area 69,700 km2 (2006)
Capital T'bilisi (2009)
Currency laris (GEL) (2009)
Government type republic (2009)
Languages Georgian 71% (official), Russian 9%, Armenian 7%, Azeri 6%, other 7%
Religions Orthodox Christian 83.9%, Muslim 9.9%, Armenian-Gregorian 3.9%, Catholic 0.8%, other 0.8%, none 0.7% (2002 census)
Total population
1980 1990 2000 2012* 2017**
N/A N/A 4.44 million 4.5 million 4.5 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
42.3% 51.6% 52.7% 52.9%
Population median age 37 years (2010)
Population growth rate 0.7% (2011)
Life expectancy 74 years (2010)
Adult literacy 100% (2005/2010)
% of population living on less than $2 a day 32.21% (2011)
Inequality of wealth distribution (Gini index)

41.34 (2008)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:4
Civil Liberties:3 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

133.36% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 36.56% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Tbilisi: 191st (2011)

CO2 emissions
(Metric tons of CO2 per capita)

1.3364 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS Bank of Georgia (National, 2013)
2012:
  • COUNTRY WINNERS Bank of Georgia (Global, 2012)
2011:
  • COUNTRY WINNERS Bank of Georgia (Western Europe, 2011)
2010:
  • COUNTRY WINNERS Bank of Georgia (Western Europe, 2010)
2009:
  • COUNTRY WINNERS Bank of Georgia (National, 2009)

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Consumer Internet Banks TBC Bank (Europe, 2012)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Integrated Consumer Bank Site TBC Bank (Europe, 2012)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS TBC Bank (Global, 2012)
2011:
  • COUNTRY WINNERS Bank of Georgia (Global, 2011)
2010:
  • COUNTRY WINNERS Bank of Georgia (Western Europe, 2010)
2009:
  • COUNTRY WINNERS Bank of Georgia (National, 2009)

WORLD'S BEST SUB CUSTODIANS

2012:
  • COUNTRY WINNERS Bank of Georgia (Central and Eastern Europe, 2012)
2011:
  • COUNTRY WINNERS Bank of Georgia (Global, 2011)
2010:
  • COUNTRY WINNERS Bank of Georgia (Western Europe, 2010)
2009:
  • COUNTRY WINNERS Bank of Georgia (Global, 2009)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS TBC Bank (Europe, 2013)
2012:
  • COUNTRY WINNERS Bank of Georgia (Global, 2012)
2011:
  • COUNTRY WINNERS Bank of Georgia (Global, 2011)
2010:
  • COUNTRY WINNERS Bank of Georgia (Western Europe, 2010)
2009:
  • COUNTRY WINNERS Bank of Georgia (Global, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE