FRONTIER MARKETS REPORT: GEORGIA
The global financial crisis and several factors peculiar to Georgia have affected foreign direct investment inflows, but investors willing to deal with tensions and risks will find opportunities.
Georgia GDP and Economic Data
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.
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International Reserves
USD 3.3 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 12.6% | 2.4% | -3.7% | 6.2% | 7.2% | 6.4% | 3.4% |
| 2014 | 2015 | 2016* | 2017* | 2018* | ||
| 4.6% | 2.9% | 2.8% | 4.8% | 4.7% |
*Estimate
Source
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2019* |
| N/A | N/A | 0.02% | 0.03% | 0.03% |
*Estimate
Source
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GDP - composition by sector
- agriculture: 6.7%
- industry: 22.6%
- services: 58.4%
(2018 estimate)
Inflation
| 2014 | 2016 | 2017 | 2018* | 2019* |
| 4% | 2.1% | 6% | 2.6% | 4.3% |
*Estimate
Source
Unemployment rate
| 2015* | 2016* | 2017* | 2018* | 2019 |
| 14.1% | 14% | 13.9% | 12.7% | N/A |
*Estimate
Source
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017* | 2018* | 2019* |
| 41.4% | 44.4% | 45.1% | 44.9% | 50% |
*Estimate
Source
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017* | 2018* | 2019* |
| -1.3% | -1.6% |
-0.5% |
-0.9% | -1.9% |
*Estimate
Source
Government bond ratings
Standard & Poor's: BB
Moody's : Ba2
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| N/A | N/A | N/A |
Source
Current account balance by percentage of GDP
-7.7 % (2018 estimate)
Source
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)
Export commodities
Vehicles, ferro-alloys, fertilizers, nuts, scrap metal, gold, copper ores
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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)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 1,566 million | USD 1,894 million | USD 1,232 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 407 million | USD 269 million | USD 340 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| N/A | N/A | N/A | N/A |
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
Source
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)
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Languages
Georgian (official) 87.6%, Azeri 6.2%, Armenian 3.9%, Russian 1.2%, other 1% (2014 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.)
Total population
| 1990 | 2000 | 2010 | 2015* | 2020* |
| N/A | 4.12 million | 3.8 million | 3.72 million | 3.68 million |
*Estimate
Source
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2015 |
| 43.1% | 52.5% | 52.6% | 58.6% |
Literacy
Total population: 99.8%
Male: 99.8%
Female: 99.7%
Definition: age 15 and over can read and write (2015 est.)
% 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)
Source
Freedom House rating
Partly Free
Political Rights: 3
Civil Liberties: 3 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 14.5%
Mobile: 133.4%
(2018)
(fixed-telephone subscribers and mobile-cellular subscribers)