Markets Actual Q2 Q3 Q4 Q1 2020
Currency 2.69 2.69 2.71 2.72 2.74 2.77
Overview Actual Q2 Q3 Q4 Q1 2020
GDP Annual Growth Rate (%) 4.50 5.3 5.1 4.9 4.2 4.8
Unemployment Rate (%) 12.70 13.7 13.7 13.7 13.5 13.5
Inflation Rate (%) 3.70 2.6 2.5 2.4 2.7 3.1
Interest Rate (%) 6.50 6.25 6.25 6 5.75 5.5
Balance of Trade (USD Million) -419.20 -490 -493 -496 -496 -485
Current Account (USD Million) -503.81 -566 -395 -409 -409 -560
Current Account to GDP (%) -8.00 -8 -8 -8 -7.9 -7.9
Government Debt to GDP (%) 44.90 44 44 44 43.3 43.3
Government Budget (% of GDP) -3.20 -3 -3 -3 -3.2 -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 Q2 Q3 Q4 Q1 2020
GDP Annual Growth Rate (%) 4.50 5.3 5.1 4.9 4.2 4.8
GDP (USD Billion) 15.16 20 20 20 21 21
GDP Constant Prices (GEL Million) 8510.40 7433 7851 8893 8868 9285
Gross Fixed Capital Formation (GEL Million) 3292.40 3275 3217 3441 3431 3592
GDP per capita (USD) 4290.17 4554 4554 4554 4678 4678
GDP per capita PPP (USD) 9745.10 10045 10045 10045 10127 10127
Gross National Product (GEL Million) 9972.30 9787 10227 10421 10391 10880
GDP From Agriculture (GEL Million) 496.20 466 491 519 517 541
GDP From Construction (GEL Million) 535.20 455 554 559 558 584
GDP From Manufacturing (GEL Million) 752.80 641 629 787 784 821
GDP From Mining (GEL Million) 76.80 75.65 58.76 80.26 80.03 83.79
GDP From Public Administration (GEL Million) 848.30 855 683 886 884 925
GDP From Services (GEL Million) 545.50 394 454 570 568 595
GDP From Transport (GEL Million) 573.10 516 557 599 597 625
GDP From Utilities (GEL Million) 190.00 153 153 199 198 207
Labour Actual Q2 Q3 Q4 Q1 2020
Unemployment Rate (%) 12.70 13.7 13.7 13.7 13.5 13.5
Unemployed Persons (Thousand) 245.70 265 265 265 262 262
Labor Force Participation Rate (%) 65.80 66.8 66.8 66.8 65.9 65.9
Wages (GEL/Month) 1202.05 1116 1060 1330 1330 1400
Population (Million) 3.73 3.71 3.71 3.73 3.73 3.73
Wages In Manufacturing (GEL) 999.10 962 974 1100 1100 1200
Youth Unemployment Rate (%) 27.10 26 26 26 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 2020
Inflation Rate (%) 3.70 2.6 2.5 2.4 2.7 3.1
Consumer Price Index CPI (Index Points) 132.30 130 131 133 135 137
Producer Prices (Index Points) 152.30 152 156 160 161 173
Producer Prices Change (%) 5.40 6.1 6.5 6.6 6.6 8.2
Inflation Rate Mom (%) 1.00 0.1 -0.2 0.3 0.3 0.5
Food Inflation (%) 4.80 2.1 1.9 1.8 1.8 2.5
Cpi Housing Utilities (Index Points) 99.92 103 104 103 103 106
CPI Transportation (Index Points) 98.70 104 103 103 103 106
Money Actual Q2 Q3 Q4 Q1 2020
Interest Rate (%) 6.50 6.25 6.25 6 5.75 5.5
Deposit Interest Rate (%) 9.65 9.65 9.65 9.65 9.4 9.4
Trade Actual Q2 Q3 Q4 Q1 2020
Balance of Trade (USD Million) -419.20 -490 -493 -496 -496 -485
Current Account (USD Million) -503.81 -566 -395 -409 -409 -560
Current Account to GDP (%) -8.00 -8 -8 -8 -7.9 -7.9
Imports (USD Million) 740.20 795 802 812 812 827
Exports (USD Million) 321.00 305 309 315 315 342
Foreign Direct Investment (USD Million) 197.10 373 384 375 375 376
External Debt (USD Million) 17750.24 18230 18510 18790 18790 20500
Government Actual Q2 Q3 Q4 Q1 2020
Government Debt to GDP (%) 44.90 44 44 44 43.3 43.3
Government Budget (% of GDP) -3.20 -3 -3 -3 -3.2 -3.2
Government Spending (GEL Million) 2018.50 1723 1646 2109 2103 2202
Taxes Actual Q2 Q3 Q4 Q1 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 Q2 Q3 Q4 Q1 2020
Industrial Production (%) 7.00 12.7 13.9 15.1 15.1 14.5
Manufacturing Production (%) 0.40 6.1 6.9 11.2 11.2 13.4
Changes in Inventories (GEL Million) 506.70 314 288 237 237 414
Leading Economic Index (%) 4.60 4 3.85 3.8 3.8 4.2
Mining Production (%) 5.30 9.8 15.5 19.4 19.4 22
Business Confidence (Index Points) 29.90 24.4 27.6 29 29 32
Consumer Actual Q2 Q3 Q4 Q1 2020
Retail Sales YoY (%) 5.60 14.8 15 15.7 15.7 16.4
Consumer Spending (GEL Million) 7186.80 5937 5582 7510 7489 7841
Consumer Confidence (Index Points) -18.90 -18.6 -18.8 -19.1 -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.