Browse a full set of economic indicators

Georgia

Includes Georgia real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.

Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Georgia economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Georgia best banks and safest banks are also available.

Basic Information

Government Type: Semi-presidential republic

Capital City: Tbilisi

GDP & Economic Information

Macroeconomy & Sovereign Data

Central Bank National Bank of Georgia
Currency Laris (GEL)
International Reserves USD 3.3 billion (2018)

International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product – GDP USD 16.3 billion (2018, estimate)
GDP (Purchasing Power Parity) Intl$ 42.6 billion (2018, estimate)

GDP Data

Real GDP growth 2007: 12.6%
2008: 2.4%
2009: -3.7%
2010: 6.2%
2011: 7.2%
2012: 6.4%
2013: 3.4%
2014: 4.6%
2015: 2.9%
2016*: 2.8%
2017*: 4.8%
2018*: 4.7%
*Estimate
GDP per capita – current prices USD 4,400.4 (2018, estimate)
GDP per capita – PPP
Intl$ 11,485.4 (2018, estimate)
GDP (PPP) – share of world total 1980: N/A
1990: N/A
2000: 0.02%
2010: 0.03%
2019*: 0.03%
*Estimate
GDP – composition by sector agriculture: 6.7%
industry: 22.6%
services: 58.4%
(2018 estimate)
Gross domestic expenditure on R&D; (% of GDP) N/A
Inflation
2014: 4%
2016: 2.1%
2017: 6%
2018*: 2.6%
2019*: 4.3%
*Estimate

Inflation & Debt

Inflation
2014: 4%
2016: 2.1%
2017: 6%
2018*: 2.6%
2019*: 4.3%
*Estimate
Government Bond Ratings
Standard & Poor’s: BB

Moody’s : Ba2

Standard & Poor’s / Moody’s
Unemployment rate
2015*: 14.1%
2016*: 14%
2017*: 13.9%
2018*: 12.7%
2019: N/A
*Estimate
Household saving rates N/A
Public debt (General government gross debt as a % of GDP) 2015: 41.4%
2016: 44.4%
2017*: 45.1%
2018*: 44.9%
2019: 50%
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP) 2015: -1.3%
2016: -1.6%
2017*: -0.5%
2018*: -0.9%
2019: -1.9%
*Estimate
Market value of publicly traded shares N/A
Largest Companies N/A

Import/Export

Exports as percent of GDP (Exports of goods and services) 55.1% (2018)
Shares in world total merchandising export 0.02% (2018)
Shares in world total commercial services export 0.08% (2018)
Total exports USD 8.8 billion (2018)
Export commodities Vehicles, ferro-alloys, fertilizers, nuts, scrap metal, gold, copper ores
Total imports USD 10.8 billion (2018 estimate)
Import commodities Fuels, vehicles, machinery and parts, grain and other foods, pharmaceuticals
Exports – major partners Russia 14.5%, Azerbaijan 10%, Turkey 7.9%, Armenia 7.7%, China 7.6%, Bulgaria 6.6%, Ukraine 4.6%, US 4.5% (2017)
Imports – major partners
Turkey 17.2%, Russia 9.9%, China 9.2%, Azerbaijan 7.6%, Ukraine 5.6%, Germany 5.4% (2017)

Competitiveness & Trade

Current account balance USD -1.2 billion (2018 estimate)
Current account balance by percentage of GDP -7.7 % (2018 estimate)
FDI inflows 2016: USD 1,566 million
2017: USD 1,894 million
2018: USD 1,232 million
FDI Outflows 2016: USD 407 million
2017: USD 269 million
2018: USD 340 million
Value of cross-border M&A, by country of purchaser N/A


United Nations Conference on Trade and Development (UNCTAD) – World Investment Report
Cross-border M&A deals worth over $3 billion completed in 2014 N/A
Cross-border M&A deals worth over $3 billion completed in 2015 N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking:

7 out of 190 countries

​Subcategories:
Starting a Business: 2 out of 190 countries
Dealing with Construction Permits: 21 out of 190 countries
Getting Electricity: 42 out of 190 countries
Registering Property: 5 out of 190 countries
Getting Credit: 15 out of 190 countries
Protecting Minority Investors: 7 out of 190 countries
Paying Taxes: 14 out of 190 countries
Trading across Borders: 45 out of 190 countries
Enforcing Contracts: 12 out of 190 countries
Resolving Insolvency: 64 out of 190 countries
Global competitiveness ranking 74 out of 141 countries

(2019)
Index of Economic Freedom Ranking: 16 / Score: 75.9 (Mostly free)

(100=totally free 0=totally repressed)

Population & Geographic Data

Time Zone UTC+4
Total Area 69,700 sq km
Total Population 990: N/A
2000: 4.12 million
2010: 3.8 million
2015*: 3.72 million
2020*: 3.68 million
*Estimate
Urban population as % of total population 1960: 43.1%
1980: 52.5%
2000: 52.6%
2015: 58.6%
Population median age 38.3 years
Population growth rate 0.01% (2018 estimate)
Life expectancy 76.6 years (2018 estimate)
% of population living on less than $3.10 a day
16.3% (last available estimate, 2017)
Inequality of wealth distribution (Gini index)
37.9 (last available estimate, 2017)

(0=perfect equality, 100=absolute inequality)
Freedom House rating
Partly Free
Political Rights: 3
Civil Liberties: 3 (2019)
(1 represents the most free, 7 the least free rating)
Total telephone subscribers as % of population
Fixed: 14.5%

Mobile: 133.4%

(2018)

(fixed-telephone subscribers and mobile-cellular subscribers)
Internet users as % of total population 63.97 % (2018)

Language & Religon

Languages Georgian (official) 87.6%, Azeri 6.2%, Armenian 3.9%, Russian 1.2%, other 1% (2014 est.)

Literacy Total population: 99.8%
Male: 99.8%
Female: 99.7%
Definition: age 15 and over can read and write (2015 est.)
Religions Orthodox (official) 83.4%, Muslim 10.7%, Armenian Apostolic 2.9%, other 1.2% (includes Catholic, Jehovah’s Witness, Yazidi, Protestant, Jewish), none 0.5%, unspecified/no answer 1.2% (2014 est.)

World Rankings

Population 3.68 M
Mercer Cost of living index Tbilisi: 202nd (2019)

C02 Emissions per capita 2.42 metric tons per capita (2014)

Global Finance Rankings & Awards: Georgia

Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.


Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings

Moody’s

Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000

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