Markets Actual Q1 Q2 Q3 Q4 2022
Currency 3.28 3.3 3.32 3.33 3.35 3.38

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Annual Growth Rate (%) -5.60 -1.5 9 4.3 3 4.5
Unemployment Rate (%) 17.60 14.5 14.5 14.5 14.5 14.7
Inflation Rate (%) 2.40 2.8 3.9 4.5 3.5 3.5
Interest Rate (%) 8.00 7.5 7.5 7.5 7.5 7.5
Balance of Trade (USD Million) -473.30 -490 -496 -496 -350 -350
Current Account (USD Million) -556.72 -350 -350 -350 -450 -450
Current Account to GDP (%) -5.10 -6.8 -6.8 -6.8 -6.8 -5.6
Government Debt to GDP (%) 41.20 56 56 46.5 56 53
Government Budget (% of GDP) -3.40 -3.7 -3.7 -3.7 -3.7 -3.1
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 2022
GDP Annual Growth Rate (%) -5.60 -1.5 9 4.3 3 4.5
GDP (USD Billion) 17.74 15.2 15.2 15.2 15.2 16.8
GDP Constant Prices (GEL Million) 9783.10 8901 9719 10204 10077 10530
Gross Fixed Capital Formation (GEL Million) 3228.50 2363 3057 3367 3325 3475
GDP per capita (USD) 4985.80 4850 4850 4850 4850 5000
GDP per capita PPP (USD) 15014.30 14500 14500 14500 14500 15200
Gross National Product (GEL Million) 12664.20 10430 11542 11044 10907 11397

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 17.60 14.5 14.5 14.5 14.5 14.7
Unemployed Persons (Thousand) 276.90 262 262 262 262 262
Labor Force Participation Rate (%) 51.80 65.9 65.9 65.9 65.9 65.9
Wages (GEL/Month) 1239.53 1400 1400 1400 1400 1400
Population (Million) 3.72 3.74 3.74 3.74 3.74 3.75
Wages In Manufacturing (GEL) 1149.51 1200 1200 1200 1200 1200
Youth Unemployment Rate (%) 27.80 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 2022
Inflation Rate (%) 2.40 2.8 3.9 4.5 3.5 3.5
Consumer Price Index CPI (points) 141.30 143 144 145 141 148
Inflation Rate Mom (%) -1.00 0.3 0.3 0.3 0.3 0.5
Producer Prices (points) 179.30 180 183 186 188 193
Producer Prices Change (%) 10.00 7.5 7.5 7.5 7.1 6.6
Food Inflation (%) 6.80 3.5 3.5 3.5 3.5 3.5
Cpi Housing Utilities (points) 78.02 105 102 103 109 108
CPI Transportation (points) 99.05 103 102 100 109 106

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 8.00 7.5 7.5 7.5 7.5 7.5
Deposit Interest Rate (%) 9.28 9.6 9.1 9.1 9.4 9.1

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (USD Million) -473.30 -490 -496 -496 -350 -350
Current Account (USD Million) -556.72 -350 -350 -350 -450 -450
Current Account to GDP (%) -5.10 -6.8 -6.8 -6.8 -6.8 -5.6
Imports (USD Million) 799.00 845 845 845 859 859
Exports (USD Million) 325.70 349 349 349 361 361
Foreign Direct Investment (USD Million) 302.62 376 376 376 376 376
External Debt (USD Million) 19661.83 20500 20500 20500 20500 20500

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 41.20 56 56 46.5 56 53
Government Budget (% of GDP) -3.40 -3.7 -3.7 -3.7 -3.7 -3.1
Government Spending (GEL Million) 1741.80 1502 1651 1817 1794 1875
Government Budget Value (GEL Million) -349.60 169 169 169 169 169
Military Expenditure (USD Million) 312.00 333 333 333 333 333

Taxes Actual Q1 Q2 Q3 Q4 2022
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 2022
Industrial Production (%) 2.10 4.5 4.5 4.5 4 4
Manufacturing Production (%) -5.34 13.4 13.4 13.4 13.4 13.4
Changes in Inventories (GEL Million) 64.80 414 414 414 414 414
Leading Economic Index (%) -7.70 5.5 8.5 5.9 5.5 5.5
Business Confidence (points) -28.60 -8 -8 -8 -4 1
Mining Production (%) 8.30 22 22 22 22 22

Consumer Actual Q1 Q2 Q3 Q4 2022
Retail Sales YoY (%) 3.40 3.4 3.4 3.4 3 3
Consumer Spending (GEL Million) 10573.00 8262 8598 11028 10890 11380
Consumer Confidence (points) -34.20 -20.5 -22 -20 -19 -17


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.