Markets Actual Q2 Q3 Q4 Q1 2022
Currency 3.14 3.2 3.21 3.23 3.25 3.28

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Annual Growth Rate (%) -6.80 9 4.3 3 2.5 4.5
Unemployment Rate (%) 18.50 20 20 20 18.9 18.9
Inflation Rate (%) 7.70 8.8 8.7 8.5 3.3 3
Interest Rate (%) 9.50 9.5 10.5 10.5 10.5 10
Balance of Trade (USD Million) -402.90 -350 -500 -350 -350 -500
Current Account (USD Million) -560.19 -350 -350 -450 -450 -450
Current Account to GDP (% of GDP) -5.10 -6.8 -6.8 -6.8 -6.8 -5.6
Government Debt to GDP (% of GDP) 62.40 56 56 56 56 53
Government Budget (% of GDP) -3.40 -3.7 -3.7 -3.7 -3.7 -3.1
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 2022
GDP Annual Growth Rate (%) -6.80 9 4.3 3 2.5 4.5
GDP (USD Billion) 17.74 15.2 15.2 15.2 15.2 16.8
GDP Constant Prices (GEL Million) 10160.30 9719 10204 10465 10414 10936
Gross Fixed Capital Formation (GEL Million) 3405.70 3057 3367 3508 3491 3666
GDP per capita (USD) 4985.80 4850 4850 4850 4850 5000
GDP per capita PPP (USD) 15014.30 14500 14500 14500 14500 15200
Gross National Product (GEL Million) 12664.20 11584 13209 13044 12981 13631

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 18.50 20 20 20 18.9 18.9
Unemployed Persons (Thousand) 281.90 262 262 262 262 262
Labor Force Participation Rate (%) 50.48 65.9 65.9 65.9 65.9 65.9
Wages (GEL/Month) 1314.67 1400 1400 1400 1400 1400
Population (Million) 3.72 3.74 3.74 3.74 3.74 3.75
Wages In Manufacturing (GEL) 1264.33 1200 1200 1200 1200 1200
Youth Unemployment Rate (%) 27.80 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 2022
Inflation Rate (%) 7.70 8.8 8.7 8.5 3.3 3
Consumer Price Index CPI (points) 152.90 152 153 153 155 158
Inflation Rate Mom (%) 0.90 0.3 0.3 0.3 0.3 0.5
Producer Prices (points) 203.20 204 210 216 208 230
Producer Prices Change (%) 17.50 17.4 18.6 19.2 5.5 6.6
Food Inflation (%) 3.00 5.5 5.5 3.2 2.8 3.5
Cpi Housing Utilities (points) 100.14 108 109 84.65 141 87.19
CPI Transportation (points) 101.96 105 111 107 106 111

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 9.50 9.5 10.5 10.5 10.5 10
Deposit Interest Rate (%) 9.11 8.95 9.95 9.95 9.95 9.45

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (USD Million) -402.90 -350 -500 -350 -350 -500
Current Account (USD Million) -560.19 -350 -350 -450 -450 -450
Current Account to GDP (% of GDP) -5.10 -6.8 -6.8 -6.8 -6.8 -5.6
Imports (USD Million) 742.30 700 800 800 850 850
Exports (USD Million) 339.40 350 300 360 350 350
Foreign Direct Investment (USD Million) -102.83 376 376 376 376 376
External Debt (USD Million) 20285.08 20500 20500 20500 20500 20500

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (% of GDP) 62.40 56 56 56 56 53
Government Budget (% of GDP) -3.40 -3.7 -3.7 -3.7 -3.7 -3.1
Government Spending (GEL Million) 2065.80 1651 1817 2128 2117 2224
Government Budget Value (GEL Million) -522.80 169 169 169 169 169
Military Expenditure (USD Million) 304.00 333 333 333 333 333

Taxes Actual Q2 Q3 Q4 Q1 2022
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 2022
Industrial Production (%) 13.60 4.5 4.5 4 4 4
Manufacturing Production (%) -5.34 13.4 13.4 13.4 13.4 13.4
Changes in Inventories (GEL Million) 485.10 414 414 414 414 414
Leading Economic Index (%) 44.80 5.9 6.5 5.5 3.5 5.5
Business Confidence (points) -28.60 -8 -8 -4 -4 1
Mining Production (%) 8.30 22 22 22 22 22

Consumer Actual Q2 Q3 Q4 Q1 2022
Retail Sales YoY (%) 11.30 3.4 3.4 3 3 3
Consumer Spending (GEL Million) 10783.10 8598 11028 11107 11053 11606
Consumer Confidence (points) -38.30 -22 -20 -19 -19 -17


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.