Markets Actual Q1 Q2 Q3 Q4 2020
Currency 2.65 2.68 2.69 2.71 2.73 2.76
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 3.70 4.9 5.3 5.1 4.5 4.4
Unemployment Rate (%) 13.90 13.7 13.7 13.7 13.7 13.5
Inflation Rate (%) 1.50 2.7 2.8 1.7 3.1 2.9
Interest Rate (%) 7.00 7 6.5 6.5 6.25 6
Balance of Trade (USD Million) -488.10 -479 -490 -493 -575 -485
Current Account (USD Million) 5.71 -386 -566 -395 -409 -560
Current Account to GDP (%) -8.70 -10 -10 -10 -10 -9
Government Debt to GDP (%) 44.90 44 44 44 44 43.3
Government Budget (% of GDP) -3.20 -3 -3 -3 -3 -3.2
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 (%) 3.70 4.9 5.3 5.1 4.5 4.4
GDP (USD Billion) 15.16 20 20 20 20 21
GDP Constant Prices (GEL Million) 7656.20 6466 7433 7851 8001 8353
Gross Fixed Capital Formation (GEL Million) 3136.70 2519 3275 3217 3278 3422
GDP per capita (USD) 4290.17 4554 4554 4554 4554 4678
GDP per capita PPP (USD) 9745.10 10045 10045 10045 10045 10127
Gross National Product (GEL Million) 9537.90 8926 9791 9781 9967 10406
GDP From Agriculture (GEL Million) 478.50 345 466 491 500 522
GDP From Construction (GEL Million) 539.80 367 455 554 564 589
GDP From Manufacturing (GEL Million) 613.50 648 641 629 641 669
GDP From Mining (GEL Million) 57.30 68.33 75.65 58.76 59.88 62.51
GDP From Public Administration (GEL Million) 665.90 511 855 683 696 726
GDP From Services (GEL Million) 442.40 335 394 454 462 483
GDP From Transport (GEL Million) 543.30 457 516 557 568 593
GDP From Utilities (GEL Million) 149.60 188 153 153 156 163
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 13.90 13.7 13.7 13.7 13.7 13.5
Employed Persons (Thousand ) 665.50 623 625 631 635 658
Unemployed Persons (Thousand) 276.40 265 265 265 265 262
Labor Force Participation Rate (%) 65.80 66.8 66.8 66.8 66.8 65.9
Wages (GEL/Month) 1125.52 1210 1116 1060 1330 1400
Population (Million) 3.73 3.71 3.71 3.71 3.71 3.74
Wages In Manufacturing (GEL) 938.00 924 962 974 1100 1200
Youth Unemployment Rate (%) 27.10 26 26 26 26 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 (%) 1.50 2.7 2.8 1.7 3.1 2.9
Consumer Price Index CPI (Index Points) 128.90 131 130 129 132 136
GDP Deflator (Index Points) 104.70 104 105 105 106 105
Import Prices (Index Points) 102.80 101 99.1 101 101 100
Producer Prices (Index Points) 150.20 155 152 156 160 173
Producer Prices Change (%) 2.80 7.3 6.1 6.5 6.6 8.2
Inflation Rate Mom (%) 0.50 0.4 0.1 -0.2 0.3 0.5
Food Inflation (%) 1.70 2.3 2.1 1.9 1.8 2.5
Cpi Housing Utilities (Index Points) 100.02 102 103 103 103 106
CPI Transportation (Index Points) 99.44 105 104 102 103 106
Export Prices (Index Points) 101.10 101 98.7 96.8 96.7 100
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 7.00 7 6.5 6.5 6.25 6
Deposit Interest Rate (%) 9.65 9.65 9.65 9.65 9.65 9.65
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (USD Million) -488.10 -479 -490 -493 -575 -485
Current Account (USD Million) 5.71 -386 -566 -395 -409 -560
Current Account to GDP (%) -8.70 -10 -10 -10 -10 -9
Imports (USD Million) 816.60 781 795 802 812 827
Exports (USD Million) 328.60 302 305 309 315 342
Remittances (USD Thousands) 389221.00 349000 351000 356000 375000 379000
Foreign Direct Investment (USD Million) 389.20 523 373 384 375 376
Capital Flows (USD Million) 320.82 450 442 435 440 438
External Debt (USD Million) 17224.60 18100 18230 18510 18790 20500
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 44.90 44 44 44 44 43.3
Government Budget (% of GDP) -3.20 -3 -3 -3 -3 -3.2
Government Spending (GEL Million) 1605.00 1555 1723 1646 1677 1751
Government Revenues (GEL Million) 875.30 837 857 863 887 913
Fiscal Expenditure (GEL Million) 751.50 731 725 701 695 744
Military Expenditure (USD Million) 331.52 324 324 324 324 333
Government Budget Value (GEL Million) 161.50 106 132 162 192 169
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 (%) 3.50 14.1 12.7 13.9 15.1 14.5
Manufacturing Production (%) 15.10 6.89 6.1 6.9 11.2 13.4
Changes in Inventories (GEL Million) 259.60 330 314 288 237 414
Leading Economic Index (%) 2.20 4.33 4 3.85 3.8 4.2
Mining Production (%) 30.60 6.3 9.8 15.5 19.4 22
Business Confidence (Index Points) 39.60 22.5 24.4 27.6 29 32
Consumer Actual Q1 Q2 Q3 Q4 2020
Retail Sales YoY (%) 12.00 15.1 14.8 15 15.7 16.4
Consumer Spending (GEL Million) 5443.10 6211 5937 5582 5688 5938
Consumer Confidence (Index Points) -15.20 -18.5 -18.6 -18.8 -19.1 -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.