Markets Actual Q2 Q3 Q4 Q1 2023
Currency 2.83 2.9 2.93 2.95 2.98 3.04

Overview Actual Q2 Q3 Q4 Q1 2023
GDP Annual Growth Rate (%) 8.80 3.5 3 4.5 4.5 4.5
Unemployment Rate (%) 20.60 16.9 1.9 16.9 16.9 17.2
Inflation Rate (%) 12.80 14 10.2 9 8 5
Interest Rate (%) 11.00 10.5 10.5 10 10 9.5
Balance of Trade (USD Million) -532.30 -500 -500 -500 -500 -500
Current Account (USD Million) -531.00 -450 -450 -450 -450 -450
Current Account to GDP (% of GDP) -9.80 -8 -8 -8 -8 -6.5
Government Debt to GDP (% of GDP) 57.10 53 53 53 53 53
Government Budget (% of GDP) -6.00 -3.7 -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 Q2 Q3 Q4 Q1 2023
GDP Annual Growth Rate (%) 8.80 3.5 3 4.5 4.5 4.5
GDP (USD Billion) 15.89 15.2 15.2 16.8 16.8 16.8
GDP Constant Prices (GEL Million) 10988.90 8966 11877 10844 11001 11483
Gross Fixed Capital Formation (GEL Million) 3118.20 3598 3105 3259 3259 3405
GDP per capita (USD) 4486.83 5000 5000 5000 5000 5000
GDP per capita PPP (USD) 14089.30 15200 15200 15200 15200 15200
Full Year GDP Growth (%) 10.40 2.3 2.3 2.3 5.2 5.2
Gross National Product (GEL Million) 16300.00 15215 15347 17034 17034 17800
GDP From Agriculture (GEL Million) 649.80 530 875 918 932 679
GDP From Construction (GEL Million) 440.20 400 526 453 460 481
GDP From Manufacturing (GEL Million) 766.40 878 1075 818 830 801
GDP From Mining (GEL Million) 127.70 163 142 136 138 133
GDP From Public Administration (GEL Million) 708.70 725 703 694 704 741
GDP From Services (GEL Million) 1599.30 1100 1523 1563 1585 1671
GDP From Transport (GEL Million) 612.90 489 639 456 462 640
GDP From Utilities (GEL Million) 252.00 188 225 283 288 263

Labour Actual Q2 Q3 Q4 Q1 2023
Unemployment Rate (%) 20.60 16.9 1.9 16.9 16.9 17.2
Unemployed Persons (Thousand) 316.20 262 262 262 262 262
Labor Force Participation Rate (%) 50.90 65.9 65.9 65.9 65.9 65.9
Wages (GEL/Month) 1463.79 1400 1400 1400 1400 1400
Population (Million) 3.69 3.74 3.74 3.75 3.75 3.75
Wages In Manufacturing (GEL) 1475.30 1200 1200 1200 1200 1200
Youth Unemployment Rate (%) 39.40 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 2023
Inflation Rate (%) 12.80 14 10.2 9 8 5
Consumer Price Index CPI (points) 171.30 175 174 175 182 184
Inflation Rate Mom (%) 1.80 2.1 1.7 1.3 0.7 0.5
Food Inflation (%) 21.30 24 20 17 14 8
CPI Housing Utilities (points) 100.42 117 110 109 109 115
CPI Transportation (points) 103.22 105 107 109 109 110
Producer Prices (points) 234.50 228 227 239 250 255
Producer Prices Change (%) 15.40 13.5 9.5 6.6 6.6 6.6

Money Actual Q2 Q3 Q4 Q1 2023
Interest Rate (%) 11.00 10.5 10.5 10 10 9.5
Deposit Interest Rate (%) 11.41 10.91 10.91 10.41 10.41 10.41

Trade Actual Q2 Q3 Q4 Q1 2023
Balance of Trade (USD Million) -532.30 -500 -500 -500 -500 -500
Current Account (USD Million) -531.00 -450 -450 -450 -450 -450
Current Account to GDP (% of GDP) -9.80 -8 -8 -8 -8 -6.5
Imports (USD Million) 948.00 850 850 850 850 850
Exports (USD Million) 415.70 350 350 350 350 350
Foreign Direct Investment (USD Million) 411.29 376 376 376 376 376
External Debt (USD Million) 21832.01 20500 20500 20500 20500 20500

Government Actual Q2 Q3 Q4 Q1 2023
Government Debt to GDP (% of GDP) 57.10 53 53 53 53 53
Government Budget (% of GDP) -6.00 -3.7 -3.7 -3.7 -3.7 -3.7
Government Spending (GEL Million) 2523.50 1994 2155 2637 2637 2756
Military Expenditure (USD Million) 304.00 333 333 333 333 333
Government Budget Value (GEL Million) 96.60 169 169 169 169 169

Taxes Actual Q2 Q3 Q4 Q1 2023
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 2023
Industrial Production (%) 37.70 40 32 36 40 40
Manufacturing Production (%) 48.30 13.4 13.4 13.4 13.4 13.4
Changes in Inventories (GEL Million) 363.00 414 414 414 414 414
Mining Production (%) 1.56 22 22 22 22 22
Business Confidence (points) 30.60 -4 -4 1 1 1

Consumer Actual Q2 Q3 Q4 Q1 2023
Retail Sales YoY (%) 44.80 45.5 3 3 3 3
Consumer Spending (GEL Million) 13721.60 12719 12598 14339 14339 14984
Consumer Confidence (points) -42.40 -19 -19 -17 -17 -17


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Georgia Forecast - was last updated on Wednesday, May 25, 2022.