Markets Actual Q1 Q2 Q3 Q4 2020
Currency 2.87 2.86 2.87 2.89 2.9 2.93
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 5.80 4.2 4.6 4.8 4.8 4.8
Unemployment Rate (%) 12.70 12.5 12.5 12.5 12.5 12
Inflation Rate (%) 7.00 4 3.5 3.3 3.1 3.1
Interest Rate (%) 9.00 8.75 8.5 8.25 8 6
Balance of Trade (USD Million) -536.70 -496 -461 -461 -490 -485
Current Account (USD Million) 16.47 -220 -150 -10 -350 -450
Current Account to GDP (%) -7.70 -5.6 -5.6 -5.6 -5.6 -5.8
Government Debt to GDP (%) 43.00 43.3 43.3 43.3 43.3 42.1
Government Budget (% of GDP) -2.30 -1.9 -1.9 -1.9 -1.9 -2.1
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 20.00 20 20 20 20 20
GDP Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 5.80 4.2 4.6 4.8 4.8 4.8
GDP (USD Billion) 16.21 17.8 17.8 17.8 17.8 18.7
GDP Constant Prices (GEL Million) 7564.50 6759 7738 7746 7928 8308
Gross Fixed Capital Formation (GEL Million) 3215.30 2432 3287 3290 3367 3529
GDP per capita (USD) 4469.20 4790 4790 4790 4790 4952
GDP per capita PPP (USD) 10151.70 10127 10127 10127 10127 10127
Gross National Product (GEL Million) 10589.00 9657 10833 10843 11097 11630
GDP From Agriculture (GEL Million) 463.70 342 474 475 486 509
GDP From Construction (GEL Million) 423.40 331 433 434 444 465
GDP From Manufacturing (GEL Million) 595.90 633 610 610 624 654
GDP From Mining (GEL Million) 68.10 65.55 69.67 69.73 71.37 74.79
GDP From Public Administration (GEL Million) 857.90 541 878 878 899 942
GDP From Services (GEL Million) 448.10 371 458 459 470 492
GDP From Transport (GEL Million) 592.20 514 606 606 621 650
GDP From Utilities (GEL Million) 166.50 196 170 170 174 183
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 12.70 12.5 12.5 12.5 12.5 12
Unemployed Persons (Thousand) 245.70 262 262 262 262 262
Labor Force Participation Rate (%) 63.90 65.9 65.9 65.9 65.9 65.9
Wages (GEL/Month) 1217.12 1330 1330 1330 1400 1400
Population (Million) 3.73 3.74 3.74 3.74 3.74 3.74
Wages In Manufacturing (GEL) 1051.00 1100 1100 1100 1200 1200
Youth Unemployment Rate (%) 26.60 25 25 25 25 25
Retirement Age Men 65.00 65 65 65 65 65
Retirement Age Women 60.00 60 60 60 60 60
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 7.00 4 3.5 3.3 3.1 3.1
Consumer Price Index CPI (points) 138.00 138 137 140 142 147
Producer Prices (points) 162.10 165 168 171 175 187
Producer Prices Change (%) 7.80 8.5 10 5.5 7.7 7.1
Inflation Rate Mom (%) 0.40 0.3 0.3 0.3 0.5 0.5
Food Inflation (%) 12.30 1.8 1.8 1.8 2.5 2.5
Cpi Housing Utilities (points) 101.00 104 104 105 104 107
CPI Transportation (points) 99.27 103 104 103 102 106
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 9.00 8.75 8.5 8.25 8 6
Deposit Interest Rate (%) 9.63 9.38 9.13 8.88 8.63 8.63
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (USD Million) -536.70 -496 -461 -461 -490 -485
Current Account (USD Million) 16.47 -220 -150 -10 -350 -450
Current Account to GDP (%) -7.70 -5.6 -5.6 -5.6 -5.6 -5.8
Imports (USD Million) 927.00 752 797 797 845 859
Exports (USD Million) 390.40 332 336 336 349 361
Foreign Direct Investment (USD Million) 417.35 375 375 375 376 376
External Debt (USD Million) 17792.49 18790 18790 18620 20500 20500
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 43.00 43.3 43.3 43.3 43.3 42.1
Government Budget (% of GDP) -2.30 -1.9 -1.9 -1.9 -1.9 -2.1
Government Spending (GEL Million) 1752.00 1759 1777 1779 1821 1908
Military Expenditure (USD Million) 312.00 333 333 333 333 333
Government Budget Value (GEL Million) 176.00 192 192 192 169 169
Taxes Actual Q1 Q2 Q3 Q4 2020
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 20.00 20 20 20 20 20
Sales Tax Rate (%) 18.00 18 18 18 18 18
Business Actual Q1 Q2 Q3 Q4 2020
Industrial Production (%) 16.90 25.8 18.2 9.5 4.5 4
Manufacturing Production (%) 20.50 11.2 11.2 11.2 13.4 13.4
Changes in Inventories (GEL Million) 339.50 237 237 237 414 414
Leading Economic Index (%) 6.40 4.1 4.1 4.2 4.2 4.2
Mining Production (%) 8.30 19.4 19.4 19.4 22 22
Business Confidence (points) 8.30 29 29 29 32 32
Consumer Actual Q1 Q2 Q3 Q4 2020
Retail Sales YoY (%) 16.30 24.9 16.3 4.7 3.4 3
Consumer Spending (GEL Million) 8201.30 6368 6486 6492 6645 6963
Consumer Confidence (points) -19.30 -19.1 -19.1 -19.1 -18.5 -18.5


This page has economic forecasts for Georgia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Georgia economy.