Markets Actual Q4 Q1 Q2 Q3 2021
Currency 3.20 3.23 3.25 3.26 3.28 3.31

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Annual Growth Rate (%) -12.30 -4.7 -1.8 10.5 5.8 3
Unemployment Rate (%) 12.70 13.9 14.5 14.5 14.5 14.5
Inflation Rate (%) 3.80 3.5 3.5 5.2 6.1 5.5
Interest Rate (%) 8.00 7.5 7.5 7.5 7.5 7.5
Balance of Trade (USD Million) -399.30 -490 -490 -496 -496 -485
Current Account (USD Million) -337.10 -350 -350 -350 -350 -450
Current Account to GDP (%) -7.70 -10.7 -6.8 -6.8 -6.8 -6.8
Government Debt to GDP (%) 43.00 45.3 46.5 46.5 46.5 46.5
Government Budget (% of GDP) -2.30 -7.5 -3.7 -3.7 -3.7 -3.7
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 20.00 20 20 20 20 20

GDP Actual Q4 Q1 Q2 Q3 2021
GDP Annual Growth Rate (%) -12.30 -4.7 -1.8 10.5 5.8 3
GDP (USD Billion) 17.74 14.8 15.2 15.2 15.2 15.2
GDP Constant Prices (GEL Million) 8916.20 9285 10443 8874 9852 9693
Gross Fixed Capital Formation (GEL Million) 2805.00 3592 3272 2356 2651 3750
GDP per capita (USD) 4985.80 4600 4850 4850 4850 4850
GDP per capita PPP (USD) 15014.30 13700 14500 14500 14500 14500
Gross National Product (GEL Million) 10589.00 10880 10091 10398 11701 11358
GDP From Agriculture (GEL Million) 882.00 541 841 866 975 565
GDP From Construction (GEL Million) 737.80 584 703 725 815 610
GDP From Manufacturing (GEL Million) 737.80 821 703 725 815 857
GDP From Mining (GEL Million) 106.80 83.79 102 105 118 87.47
GDP From Public Administration (GEL Million) 654.80 925 624 643 724 966
GDP From Services (GEL Million) 448.10 595 427 440 495 621
GDP From Transport (GEL Million) 481.60 625 459 473 532 653
GDP From Utilities (GEL Million) 84.10 207 80.15 82.59 92.93 216

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 12.70 13.9 14.5 14.5 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) 1150.14 1400 1400 1400 1400 1400
Population (Million) 3.72 3.74 3.74 3.74 3.74 3.74
Wages In Manufacturing (GEL) 1051.00 1200 1200 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 Q4 Q1 Q2 Q3 2021
Inflation Rate (%) 3.80 3.5 3.5 5.2 6.1 5.5
Consumer Price Index CPI (points) 140.30 137 143 145 147 141
Inflation Rate Mom (%) 0.00 0.2 0.3 0.3 0.3 0.5
Food Inflation (%) 11.50 5.5 3.5 3.5 3.5 3.5
Cpi Housing Utilities (points) 99.94 106 105 103 104 109
CPI Transportation (points) 101.86 106 103 103 102 109
Producer Prices (points) 173.90 173 175 183 186 188
Producer Prices Change (%) 4.90 7.7 7.5 7.5 7.5 7.1

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 8.00 7.5 7.5 7.5 7.5 7.5
Deposit Interest Rate (%) 9.60 9.4 9.86 9.86 9.86 9.4

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (USD Million) -399.30 -490 -490 -496 -496 -485
Current Account (USD Million) -337.10 -350 -350 -350 -350 -450
Current Account to GDP (%) -7.70 -10.7 -6.8 -6.8 -6.8 -6.8
Imports (USD Million) 731.30 845 845 845 845 859
Exports (USD Million) 332.00 349 349 349 349 361
Foreign Direct Investment (USD Million) 237.78 376 376 376 376 376
External Debt (USD Million) 18762.06 20500 20500 20500 20500 20500

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 43.00 45.3 46.5 46.5 46.5 46.5
Government Budget (% of GDP) -2.30 -7.5 -3.7 -3.7 -3.7 -3.7
Government Spending (GEL Million) 1514.90 2202 1746 1497 1685 2299
Military Expenditure (USD Million) 312.00 333 333 333 333 333
Government Budget Value (GEL Million) -345.40 169 169 169 169 169

Taxes Actual Q4 Q1 Q2 Q3 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 Q4 Q1 Q2 Q3 2021
Industrial Production (%) -5.30 4.5 4.5 4.5 4.5 4
Manufacturing Production (%) 20.50 13.4 13.4 13.4 13.4 13.4
Changes in Inventories (GEL Million) 344.70 414 414 414 414 414
Leading Economic Index (%) -5.30 3.5 5.5 8.5 5.9 5.5
Mining Production (%) 8.30 22 22 22 22 22
Business Confidence (points) -27.20 -12 -8 -8 -8 -4

Consumer Actual Q4 Q1 Q2 Q3 2021
Retail Sales YoY (%) -14.50 3.4 3.4 3.4 3.4 3
Consumer Spending (GEL Million) 7888.50 7841 9784 8237 9268 8186
Consumer Confidence (points) -40.20 -30 -20.5 -22 -20 -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.