Economy of Georgia
Population: 3.73 M (2018)
GDP per Capita: 4,717 USD (2018)
17,600 M.

GDP USD

(2018)

Display Chart
8,900 M.

EXPORTS USD

(2018)

Display Chart
10,770 M.

IMPORTS USD

(2018)

Display Chart
41.20 %

PUBLIC DEBT

(2019)

Display Chart
Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 4.80 % (2018)
GDP of 2010 USD USD 17.60 B. (2018)
GDP Current USD USD 17.60 B. (2018)
GDP per Capita Current USD USD 4,717 (2018)
GDP per capita, PPP USD 10,652 (2018)
GDP per Capita, 2010 USD USD 4,721 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 13.21 % (2018)
Government Spending USD 2.32 B. (2018)
Government Debt % GDP 41.20 % (2019)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 145.86 (2018)
Trade Openness 111.76 % (2018)
Exports of Goods and Services % GDP 50.56 % (2018)
Exports Goods & Services USD 8.90 B. (2018)
Exports Annual Growth 10.35 % (2017)
Imports as % GDP 61.20 % (2018)
Total Imports USD 10.77 B. (2018)
Foreign Direct Investment % GDP 6.92 % (2018)
Foreign Direct Investment USD 1.18 B. (2018)
Current Account Balance % GDP USD -6.78 % (2018)
Current Account Balance USD -1.19 B. (2018)
Trade Balance % GDP -10.64 % (2018)
Trade Balance USD -1.87 B. (2018)
Foreign Exchange Reserves incl Gold USD 3.29 B. (2018)
Remittances % GDP 11.56 % (2018)
Remittances USD 1,189 M. (2018)
Balance of Payments USD 23 M. (2016)

Labor Market

Indicator Value
Labor Force 2.01 M. (2019)
Unemployment Rate 14.25 % (2019)
Unemployment Rate Females 12.88 % (2019)
Unemployment Rate Males 15.64 % (2019)
Youth Unemployment (ages 15-24) 30.92 % (2019)
Labor Force Participation Rate 67.62 % (2019)
Labor Force (Percent Female) 44.91 % (2019)
Female Labor Force Participation Rate 57.89 % (2019)
Male Labor Force Participation Rate 78.76 % (2019)
Dependent People 53.05 % (2018)

Agriculture Sector

Indicator Value
Forest Area 40.60 % (2016)
Forest Area km² 28,224 km² (2016)
Agricultural Land 34.45 % (2016)
Agricultural Land km² 23,940 km² (2016)
Employment 42.67 % (2019)
Value added % GDP 6.76 % (2018)
Agriculture Value added USD 1.19 B. (2018)
Crop Production Index 77.50 (2016)
Precipitation 1,026 mm (2014)
Arable Land 5 % (2016)
Cereal Yield 1,979 kg/hectare (2017)
Food production index 72 (2016)
Rural Population 41 % (2018)
Fertilizer use of Arable Land 171 kg/hectare (2016)
Livestock Production Index 69 (2016)
Economy of Georgia

According to the World Bank and its latest published data, the economy of the Georgia presents a growth rate of 4.80 % (2018) to the previous year.

With a population that reaches 3.73 M (2018) and a gross domestic product of USD 17.60 B. (2018), it translates a Gross Domestic Product per Capita of USD 4,717 placing its inhabitants on the threshold of an Upper middle income country (according to the World Bank's updated classification).

Georgia also has a workforce of 2.01 M. (2019) with an unemployment rate of 14.25 % (2019), where women represent 12.88 % (2019) and men 15.64 % (2019), the unemployment rate for young people between 15-24 years old stood at 30.92 % (2019). The total number of dependent people stands at 53.05 % (2018).

The central government spent 13.21 % (2018) of its gross domestic product that year, which in absolute terms is USD 2.32 B. (2018). Its consolidated public debt reached 41.20 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Georgia exported USD 8.90 B. (2018), which represents 50.56 % (2018) of its gross domestic product, in that same sense its imports reached USD 10.77 B. (2018) with a direct foreign investment of USD 1.18 B. (2018).

Georgia has a forest area of 28,224 km² (2016), which represents 40.60 % (2016) of its total area, an average rainfall of 1,026 mm (2014) per year and a population of 41 % (2018) living in rural areas. With a total area of 23,940 km² (2016) available for agriculture and 42.67 % (2019) of its employments, the agricultural sector contributes to the economy of the Georgia about USD 1.19 B. (2018) (6.76 % (2018) of its GDP).