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 |
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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 |
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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 |
Georgia
Inflation & Debt
Inflation |
2014: 4% 2016: 2.1% 2017: 6% 2018*: 2.6% 2019*: 4.3% *Estimate |
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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) |
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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) |
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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 |
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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.) |
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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 |
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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