Markets Actual Q3 Q4 Q1 Q2 2020
Currency 2.95 2.95 2.97 2.98 3 3.03
Overview Actual Q3 Q4 Q1 Q2 2020
GDP Annual Growth Rate (%) 4.90 5.1 4.9 4.2 4.6 4.8
Unemployment Rate (%) 12.70 13 13 12.5 12.5 12.5
Inflation Rate (%) 4.90 5 4.8 4 3.5 3.1
Interest Rate (%) 7.00 7 7.5 7.5 7 6.75
Balance of Trade (USD Million) -435.10 -418 -496 -496 -496 -485
Current Account (USD Million) -233.40 -395 -409 -409 -409 -560
Current Account to GDP (%) -7.70 -8 -8 -7.9 -7.9 -7.9
Government Debt to GDP (%) 43.00 44 44 43.3 43.3 43.3
Government Budget (% of GDP) -2.30 -3 -3 -3.2 -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 Q3 Q4 Q1 Q2 2020
GDP Annual Growth Rate (%) 4.90 5.1 4.9 4.2 4.6 4.8
GDP (USD Billion) 16.21 20 20 21 21 21
GDP Constant Prices (GEL Million) 6619.60 8047 8927 6898 6924 9356
Gross Fixed Capital Formation (GEL Million) 2382.30 3297 3454 2482 2492 3620
GDP per capita (USD) 4469.20 4554 4554 4678 4678 4678
GDP per capita PPP (USD) 10151.70 10045 10045 10127 10127 10127
Gross National Product (GEL Million) 9458.20 10481 11621 9855 9893 12179
GDP From Agriculture (GEL Million) 335.40 503 521 349 351 546
GDP From Construction (GEL Million) 324.40 567 561 338 339 588
GDP From Manufacturing (GEL Million) 620.00 645 790 646 649 828
GDP From Mining (GEL Million) 64.20 60.22 80.56 66.9 67.15 84.43
GDP From Public Administration (GEL Million) 529.50 700 890 552 554 933
GDP From Services (GEL Million) 363.00 465 572 378 380 600
GDP From Transport (GEL Million) 503.70 571 601 525 527 630
GDP From Utilities (GEL Million) 191.70 157 199 200 201 209
Labour Actual Q3 Q4 Q1 Q2 2020
Unemployment Rate (%) 12.70 13 13 12.5 12.5 12.5
Unemployed Persons (Thousand) 245.70 265 265 262 262 262
Labor Force Participation Rate (%) 63.90 66.8 66.8 65.9 65.9 65.9
Wages (GEL/Month) 1202.05 1060 1330 1330 1330 1400
Population (Million) 3.73 3.71 3.73 3.73 3.73 3.73
Wages In Manufacturing (GEL) 999.10 974 1100 1100 1100 1200
Youth Unemployment Rate (%) 26.60 26 26 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 Q3 Q4 Q1 Q2 2020
Inflation Rate (%) 4.90 5 4.8 4 3.5 3.1
Consumer Price Index CPI (Index Points) 132.90 133 135 138 137 139
Producer Prices (Index Points) 157.80 156 160 162 162 169
Producer Prices Change (%) 10.70 6.5 6.6 6.6 5.8 5.2
Inflation Rate Mom (%) 0.80 -0.2 0.3 0.3 0.3 0.5
Food Inflation (%) 7.90 1.9 1.8 1.8 1.8 2.5
Cpi Housing Utilities (Index Points) 100.08 106 105 104 104 108
CPI Transportation (Index Points) 100.63 105 104 103 104 107
Money Actual Q3 Q4 Q1 Q2 2020
Interest Rate (%) 7.00 7 7.5 7.5 7 6.75
Deposit Interest Rate (%) 8.28 8.27 8.27 8.27 7.77 7.52
Trade Actual Q3 Q4 Q1 Q2 2020
Balance of Trade (USD Million) -435.10 -418 -496 -496 -496 -485
Current Account (USD Million) -233.40 -395 -409 -409 -409 -560
Current Account to GDP (%) -7.70 -8 -8 -7.9 -7.9 -7.9
Imports (USD Million) 744.50 728 834 752 797 845
Exports (USD Million) 309.40 310 340 332 336 349
Foreign Direct Investment (USD Million) 281.10 384 375 375 375 376
External Debt (USD Million) 17828.44 18510 18790 18620 18496 20500
Government Actual Q3 Q4 Q1 Q2 2020
Government Debt to GDP (%) 43.00 44 44 43.3 43.3 43.3
Government Budget (% of GDP) -2.30 -3 -3 -3.2 -3.2 -3.2
Government Spending (GEL Million) 1722.40 1687 2117 1795 1802 2219
Taxes Actual Q3 Q4 Q1 Q2 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 Q3 Q4 Q1 Q2 2020
Industrial Production (%) 2.90 6.9 6.5 6 6 4.5
Manufacturing Production (%) 0.40 6.9 11.2 11.2 11.2 13.4
Changes in Inventories (GEL Million) 311.50 288 237 237 237 414
Leading Economic Index (%) 6.10 5.3 5.9 4.1 4.1 4.2
Mining Production (%) -2.90 15.5 19.4 19.4 19.4 22
Business Confidence (Index Points) 27.00 27.6 29 29 29 32
Consumer Actual Q3 Q4 Q1 Q2 2020
Retail Sales YoY (%) 12.20 3.7 4 4.2 3.6 3.4
Consumer Spending (GEL Million) 6237.40 5721 7539 6499 6524 7901
Consumer Confidence (Index Points) -15.60 -18.8 -19.1 -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.