Georgia | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Unemployment Rate 12.00 11.4 10.8 10.8 10.8 10 percent [+]
Inflation Rate 0.20 0.1 0.5 1.6 2.2 3.7 percent [+]
Interest Rate 6.50 6.25 6 6 6 6 percent [+]
Balance of Trade -472.40 -616 -803 -919 -745 -811 USD Million [+]
Government Debt to GDP 43.10 42.6 41.6 41.6 41.6 38.4 percent [+]
MARKETS Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Currency 2.58 2.5 2.53 2.55 2.58 2.98 [+]
GDP Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
GDP Annual Growth Rate 3.00 2.7 2.9 2.8 3.1 4.8 percent [+]
GDP 13.97 14.5 15.7 15.7 15.7 21 USD Billion [+]
GDP Constant Prices 6544.00 11142 7963 8354 13143 33286 GEL Million [+]
Gross Fixed Capital Formation 2493.60 2970 2484 2846 3109 4169 GEL Million [+]
GDP per capita 4010.30 4101 4118 4134 4151 4243 USD [+]
GDP per capita PPP 9109.26 9882 10037 10192 10346 12603 USD [+]
Gross National Product 7650.50 10123 8464 8772 10257 15031 GEL Million [+]
GDP From Agriculture 492.80 402 298 365 361 320 GEL Million [+]
GDP From Construction 397.80 478 342 412 530 459 GEL Million [+]
GDP From Manufacturing 553.70 674 529 565 609 663 GEL Million [+]
GDP From Mining 58.70 58.67 51.33 58.64 51.36 58.45 GEL Million [+]
GDP From Public Administration 775.80 670 656 914 690 289 GEL Million [+]
GDP From Services 319.20 307 306 306 306 306 GEL Million [+]
GDP From Transport 423.10 429 435 444 448 499 GEL Million [+]
GDP From Utilities 142.10 174 154 144 139 159 GEL Million [+]
LABOUR Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Unemployment Rate 12.00 11.4 10.8 10.8 10.8 10 percent [+]
Employed Persons 577.60 569 570 570 571 571 Thousand [+]
Unemployed Persons 241.60 256 250 244 239 229 Thousand [+]
Labor Force Participation Rate 67.80 65.98 66.02 66.05 66.09 64.22 percent [+]
Wages 973.74 973 914 973 915 970 GEL/Month [+]
Population 3.72 3.84 3.81 3.77 3.74 3.85 Million [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Retirement Age Women 60.00 60 60 60 60 60 [+]
Wages In Manufacturing 762.00 698 702 706 713 669 GEL [+]
Youth Unemployment Rate 32.00 30.46 30.9 31.33 31.77 32.46 percent [+]
PRICES Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Inflation Rate 0.20 0.1 0.5 1.6 2.2 3.7 percent [+]
Consumer Price Index CPI 117.80 118 119 118 118 119 Index Points [+]
GDP Deflator 102.20 101 101 102 103 103 Index Points [+]
Producer Prices 123.70 124 125 125 125 125 Index Points [+]
Producer Prices Change -1.90 -1.74 -1.63 -1.6 -1.59 -1.58 percent [+]
Inflation Rate Mom 0.60 0.35 0.26 0.28 0.28 0.28 percent [+]
Food Inflation -0.10 0.33 0.04 0.26 0.1 0.17 percent [+]
Export Prices 101.40 100 100 100 100 100 Index Points [+]
Cpi Transportation 101.83 101 100 100 100 100 Index Points [+]
MONEY Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Interest Rate 6.50 6.25 6 6 6 6 percent [+]
Money Supply M0 2250279.40 2305069 2354697 2405380 2457142 3239704 GEL Thousands [+]
Deposit Interest Rate 8.90 7.33 7.24 7.14 7.04 5.13 percent [+]
Money Supply M1 4865149.71 4997337 5134813 5276125 5421374 7720254 GEL Thousands [+]
Money Supply M2 6282370.98 6343175 6457979 6510605 6518463 5987487 GEL Thousands [+]
Money Supply M3 14713510.72 14721587 14693544 14665523 14637626 14285975 GEL Thousands [+]
Foreign Exchange Reserves 2005059.00 2136641 2127404 2104657 2092536 2089908 GEL Thousands [+]
TRADE Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Balance of Trade -472.40 -616 -803 -919 -745 -811 USD Million [+]
Exports 189.33 188 187 186 186 186 USD Million [+]
Imports 661.73 795 984 1122 942 1004 USD Million [+]
Current Account -502.67 -455 -379 -460 -427 -447 USD Million [+]
Current Account to GDP -11.80 -11.23 -10.85 -10.48 -10.1 -10.93 percent [+]
Remittances 306686.00 305471 240000 240000 310314 295000 USD Thousands [+]
Foreign Direct Investment 445.30 408 430 417 421 420 USD Million [+]
External Debt 15058.65 15490 15599 15849 15988 18406 USD Million [+]
Capital Flows 865.18 665 640 713 638 702 USD Million [+]
Crude Oil Production 1.00 1 1 1 1 1 BBL/D/1K [+]
Terrorism Index 1.26 1.61 1.69 1.76 1.83 2.49 [+]
GOVERNMENT Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Government Debt to GDP 43.10 42.6 41.6 41.6 41.6 38.4 percent [+]
Government Budget -3.70 -3 -2.8 -2.8 -2.1 -3.15 percent of GDP [+]
Government Spending 4225.30 4060 2413 3827 2450 2909 GEL Million [+]
Government Revenues 677.80 748 728 727 728 728 GEL Million [+]
Fiscal Expenditure 828.50 770 771 763 763 764 GEL Million [+]
Military Expenditure 405.20 418 416 414 413 413 USD Million [+]
Government Budget Value -150.70 -29.83 37.11 -2.99 19.55 13.1 GEL Million [+]
BUSINESS Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Industrial Production 8.10 10.76 11.32 8.27 6.8 11.01 percent [+]
Manufacturing Production 6.00 4.1 7.1 7.1 18.22 13.4 percent [+]
Changes in Inventories 291.80 325 317 292 266 294 GEL Million [+]
Leading Economic Index 1.30 4.1 3.6 3.6 3.33 4.2 percent [+]
Mining Production 4.20 28.5 29.32 29.32 -19.77 22 percent [+]
Competitiveness Index 4.32 4.22 4.22 4.22 4.22 4.22 Points [+]
Competitiveness Rank 59.00 65 65 65 67 84 [+]
Business Confidence 25.00 30.32 22.54 20.72 14.16 22.25 [+]
Ease of Doing Business 16.00 17.29 16.5 16.11 15.71 15.63 [+]
Corruption Index 52.00 56.16 57.01 57.86 58.7 69.27 Points [+]
Corruption Rank 48.00 53 52 51 52 71 [+]
CONSUMER Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Retail Sales YoY 8.20 9.26 11.21 13.14 12.83 10.97 percent [+]
Consumer Spending 4968.50 5560 5110 4949 5022 5152 GEL Million [+]
Consumer Confidence -10.80 -8.37 -9.6 -9.4 -9.25 -9.32 [+]
TAXES Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Corporate Tax Rate 15.00 15 15 15 15 15 percent [+]
Personal Income Tax Rate 20.00 20 20 20 20 20 percent [+]
Sales Tax Rate 18.00 18 18 18 18 18 percent [+]





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. 12/10/2016