Markets Actual Q3 Q4 Q1 Q2 2021
Currency 3.05 3.07 3.08 3.1 3.11 3.14

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Annual Growth Rate (%) 2.20 -4.7 -1.8 -0.5 5.2 3
Unemployment Rate (%) 12.70 13.9 13.9 14.5 14.5 14.5
Inflation Rate (%) 6.10 5.7 5 4.2 3 3.1
Interest Rate (%) 8.25 7.75 7.5 7.5 7.5 6
Balance of Trade (USD Million) -309.40 -461 -490 -496 -496 -485
Current Account (USD Million) -417.70 -10 -350 -350 -350 -450
Current Account to GDP (%) -7.70 -10.7 -10.7 -6.8 -6.8 -6.8
Government Debt to GDP (%) 43.00 45.3 45.3 46.5 46.5 46.5
Government Budget (% of GDP) -2.30 -7.5 -7.5 -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 Q3 Q4 Q1 Q2 2021
GDP Annual Growth Rate (%) 2.20 -4.7 -1.8 -0.5 5.2 3
GDP (USD Billion) 17.74 14.8 14.8 15.2 15.2 15.2
GDP Constant Prices (GEL Million) 9036.30 10158 10760 8991 9506 11083
Gross Fixed Capital Formation (GEL Million) 2399.00 3140 3372 3417 3612 3473
GDP per capita (USD) 4985.80 4600 4600 4850 4850 4850
GDP per capita PPP (USD) 15014.30 13700 13700 14500 14500 14500
Gross National Product (GEL Million) 10589.00 10340 10398 10536 11140 10710
GDP From Agriculture (GEL Million) 882.00 861 866 878 928 892
GDP From Construction (GEL Million) 737.80 720 725 734 776 746
GDP From Manufacturing (GEL Million) 737.80 720 725 734 776 746
GDP From Mining (GEL Million) 106.80 104 105 106 112 108
GDP From Public Administration (GEL Million) 654.80 639 643 652 689 662
GDP From Services (GEL Million) 448.10 438 440 446 471 453
GDP From Transport (GEL Million) 481.60 470 473 479 507 487
GDP From Utilities (GEL Million) 84.10 82.12 82.59 83.68 88.47 85.06

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 12.70 13.9 13.9 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) 1202.73 1330 1400 1400 1400 1400
Population (Million) 3.72 3.74 3.74 3.74 3.74 3.74
Wages In Manufacturing (GEL) 1051.00 1100 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 Q3 Q4 Q1 Q2 2021
Inflation Rate (%) 6.10 5.7 5 4.2 3 3.1
Consumer Price Index CPI (points) 140.00 143 145 146 146 149
Inflation Rate Mom (%) -1.40 0.5 0.2 0.3 0.3 0.5
Food Inflation (%) 13.60 6.5 5.5 3.5 3.5 3.5
Cpi Housing Utilities (points) 99.04 107 106 104 104 109
CPI Transportation (points) 96.63 106 104 103 101 107
Producer Prices (points) 175.40 171 175 183 189 187
Producer Prices Change (%) 12.70 5.5 7.7 7.5 7.5 7.1

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 8.25 7.75 7.5 7.5 7.5 6
Deposit Interest Rate (%) 11.82 11.94 11.94 11.94 11.94 11.94

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (USD Million) -309.40 -461 -490 -496 -496 -485
Current Account (USD Million) -417.70 -10 -350 -350 -350 -450
Current Account to GDP (%) -7.70 -10.7 -10.7 -6.8 -6.8 -6.8
Imports (USD Million) 576.30 797 845 845 845 859
Exports (USD Million) 266.90 336 349 349 349 361
Foreign Direct Investment (USD Million) 165.37 375 376 376 376 376
External Debt (USD Million) 18282.37 18790 20500 20500 20500 20500

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 43.00 45.3 45.3 46.5 46.5 46.5
Government Budget (% of GDP) -2.30 -7.5 -7.5 -3.7 -3.7 -3.7
Government Spending (GEL Million) 1524.90 1711 1799 1823 1927 1853
Military Expenditure (USD Million) 312.00 333 333 333 333 333
Government Budget Value (GEL Million) -3.10 192 169 169 169 169

Taxes Actual Q3 Q4 Q1 Q2 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 Q3 Q4 Q1 Q2 2021
Industrial Production (%) 8.40 9.5 4.5 4.5 4.5 4
Manufacturing Production (%) 20.50 11.2 13.4 13.4 13.4 13.4
Changes in Inventories (GEL Million) 334.00 237 414 414 414 414
Leading Economic Index (%) -13.50 4.2 4.2 4.2 4.2 4.2
Mining Production (%) 8.30 19.4 22 22 22 22
Business Confidence (points) -27.20 -16 -12 -8 -8 -4

Consumer Actual Q3 Q4 Q1 Q2 2021
Retail Sales YoY (%) 13.50 4.7 3.4 3.4 3.4 3
Consumer Spending (GEL Million) 8387.60 8009 10082 10216 10801 10385
Consumer Confidence (points) -40.20 -25 -23 -20.5 -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.