Markets Actual Q2 Q3 Q4 Q1 2021
Currency 2.92 2.97 2.99 3 3.02 3.05

Overview Actual Q2 Q3 Q4 Q1 2021
GDP Annual Growth Rate (%) 5.10 -6.5 -4.7 -1.8 -0.5 0.5
Unemployment Rate (%) 12.70 13.9 13.9 13.9 14.5 14.5
Inflation Rate (%) 6.50 7.5 3.3 3.1 3.1 3.1
Interest Rate (%) 8.50 8.5 8.5 8.5 8.5 6
Balance of Trade (USD Million) -234.80 -461 -461 -490 -496 -485
Current Account (USD Million) -538.90 -150 -10 -350 -350 -450
Current Account to GDP (%) -7.70 -5.6 -5.6 -5.6 -5.8 -5.8
Government Debt to GDP (%) 43.00 45.3 45.3 45.3 46.5 46.5
Government Budget (% of GDP) -2.30 -7.5 -7.5 -7.5 -7 -7
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 20.00 20 20 20 20 20

GDP Actual Q2 Q3 Q4 Q1 2021
GDP Annual Growth Rate (%) 5.10 -6.5 -4.7 -1.8 -0.5 0.5
GDP (USD Billion) 20.00 17.8 17.8 17.8 18.7 18.7
GDP Constant Prices (GEL Million) 10957.70 9836 10158 10760 10903 10814
Gross Fixed Capital Formation (GEL Million) 3433.80 2887 3140 3157 3199 3173
GDP per capita (USD) 4469.20 4790 4790 4790 4952 4952
GDP per capita PPP (USD) 10151.70 9964 10127 10127 9964 10423
Gross National Product (GEL Million) 10589.00 10245 10340 10398 10536 10450
GDP From Agriculture (GEL Million) 882.00 704 861 866 878 870
GDP From Construction (GEL Million) 737.80 701 720 725 734 728
GDP From Manufacturing (GEL Million) 737.80 701 720 725 734 728
GDP From Mining (GEL Million) 106.80 86.4 104 105 106 105
GDP From Public Administration (GEL Million) 654.80 636 639 643 652 646
GDP From Services (GEL Million) 448.10 434 438 440 446 442
GDP From Transport (GEL Million) 481.60 582 470 473 479 475
GDP From Utilities (GEL Million) 84.10 66.85 82.12 82.59 83.68 83

Labour Actual Q2 Q3 Q4 Q1 2021
Unemployment Rate (%) 12.70 13.9 13.9 13.9 14.5 14.5
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) 1319.63 1330 1330 1400 1400 1400
Population (Million) 3.72 3.74 3.74 3.74 3.74 3.74
Wages In Manufacturing (GEL) 1051.00 1100 1100 1200 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 Q2 Q3 Q4 Q1 2021
Inflation Rate (%) 6.50 7.5 3.3 3.1 3.1 3.1
Consumer Price Index CPI (points) 142.00 142 140 142 145 147
Inflation Rate Mom (%) 0.20 0.5 0.5 0.2 0.3 0.5
Food Inflation (%) 14.70 7.5 6.5 5.5 3.5 3.5
Cpi Housing Utilities (points) 100.66 108 105 104 103 107
CPI Transportation (points) 97.58 108 103 102 102 106
Producer Prices (points) 172.90 174 171 175 183 187
Producer Prices Change (%) 10.10 13.8 5.5 7.7 7.5 7.1

Money Actual Q2 Q3 Q4 Q1 2021
Interest Rate (%) 8.50 8.5 8.5 8.5 8.5 6
Deposit Interest Rate (%) 10.64 10.26 10.26 10.26 10.26 10.26

Trade Actual Q2 Q3 Q4 Q1 2021
Balance of Trade (USD Million) -234.80 -461 -461 -490 -496 -485
Current Account (USD Million) -538.90 -150 -10 -350 -350 -450
Current Account to GDP (%) -7.70 -5.6 -5.6 -5.6 -5.8 -5.8
Imports (USD Million) 458.00 797 797 845 845 859
Exports (USD Million) 223.20 336 336 349 349 361
Foreign Direct Investment (USD Million) 346.98 375 375 376 376 376
External Debt (USD Million) 18630.90 18790 18790 20500 20500 20500

Government Actual Q2 Q3 Q4 Q1 2021
Government Debt to GDP (%) 43.00 45.3 45.3 45.3 46.5 46.5
Government Budget (% of GDP) -2.30 -7.5 -7.5 -7.5 -7 -7
Government Spending (GEL Million) 1832.20 1441 1711 1720 1743 1729
Military Expenditure (USD Million) 312.00 333 333 333 333 333
Government Budget Value (GEL Million) -3.10 192 192 169 169 169

Taxes Actual Q2 Q3 Q4 Q1 2021
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 Q2 Q3 Q4 Q1 2021
Industrial Production (%) 8.40 18.2 9.5 4.5 4.5 4
Manufacturing Production (%) 20.50 11.2 11.2 13.4 13.4 13.4
Changes in Inventories (GEL Million) 637.60 237 237 414 414 414
Leading Economic Index (%) -16.60 3 4.2 4.2 4.2 4.2
Mining Production (%) 8.30 19.4 19.4 22 22 22
Business Confidence (points) 25.80 -20 -16 -12 -8 -4

Consumer Actual Q2 Q3 Q4 Q1 2021
Retail Sales YoY (%) 13.50 16.3 4.7 3.4 3.4 3
Consumer Spending (GEL Million) 10267.00 7568 8009 8054 8160 8094
Consumer Confidence (points) -48.30 -29 -25 -23 -20.5 -19


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.