Georgia | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 12.00 10.8 10.8 10.8 10.8 10 percent [+]
Inflation Rate 1.80 0.5 1.6 2.2 2.4 3.7 percent [+]
Interest Rate 6.50 6.25 6 6 6 6 percent [+]
Balance of Trade -766.50 -893 -810 -756 -725 -676 USD Million [+]
Government Debt to GDP 43.10 41.6 41.6 41.6 41.6 38.4 percent [+]
MARKETS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Currency 2.67 2.68 2.71 2.74 2.76 3.16 [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Annual Growth Rate 2.30 2.9 2.8 3.1 3.2 4.8 percent [+]
GDP 13.97 15.7 15.7 15.7 16 21 USD Billion [+]
GDP Constant Prices 7069.70 5984 6764 7337 8076 8945 GEL Million [+]
Gross Fixed Capital Formation 2724.10 2258 2599 2792 2791 2735 GEL Million [+]
GDP per capita 4010.30 4036 4057 4079 4101 4243 USD [+]
GDP per capita PPP 9109.26 9441 9586 9732 9877 12583 USD [+]
Gross National Product 8082.30 8085 8602 8087 8600 8586 GEL Million [+]
GDP From Agriculture 463.50 382 473 441 435 375 GEL Million [+]
GDP From Construction 500.20 344 397 502 461 447 GEL Million [+]
GDP From Manufacturing 608.10 546 580 615 687 674 GEL Million [+]
GDP From Mining 49.90 49.96 60.22 50.02 60.16 59.81 GEL Million [+]
GDP From Public Administration 651.40 652 855 652 854 852 GEL Million [+]
GDP From Services 357.50 338 336 337 337 337 GEL Million [+]
GDP From Transport 460.20 422 451 462 466 509 GEL Million [+]
GDP From Utilities 136.30 161 144 140 182 181 GEL Million [+]
LABOUR Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 12.00 10.8 10.8 10.8 10.8 10 percent [+]
Employed Persons 601.00 606 603 602 601 602 Thousand [+]
Unemployed Persons 241.60 247 250 253 256 229 Thousand [+]
Labor Force Participation Rate 67.80 66.06 66.03 66.01 65.98 64.22 percent [+]
Wages 980.64 981 1030 981 1030 1028 GEL/Month [+]
Population 3.72 3.68 3.73 3.79 3.84 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 839.00 788 837 846 893 881 GEL [+]
Youth Unemployment Rate 32.00 32.47 31.8 31.13 30.46 32.46 percent [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate 1.80 0.5 1.6 2.2 2.4 3.7 percent [+]
Consumer Price Index CPI 119.00 120 120 120 120 120 Index Points [+]
GDP Deflator 102.60 103 103 104 104 104 Index Points [+]
Producer Prices 132.00 130 131 131 131 132 Index Points [+]
Producer Prices Change 7.50 2.52 2.77 2.85 2.87 2.88 percent [+]
Inflation Rate Mom 1.00 0.31 0.3 0.3 0.3 0.3 percent [+]
Food Inflation 1.60 1.65 1.77 1.66 1.74 1.71 percent [+]
Export Prices 105.60 101 100 101 101 101 Index Points [+]
Cpi Transportation 102.28 100 100 100 100 100 Index Points [+]
MONEY Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Interest Rate 6.50 6.25 6 6 6 6 percent [+]
Money Supply M0 2245870.61 2254956 2273572 2256097 2273780 2273204 GEL Thousands [+]
Deposit Interest Rate 8.90 9.3 8.64 7.99 7.33 5.13 percent [+]
Money Supply M1 4877110.17 4907876 4911348 4912844 4912986 4913123 GEL Thousands [+]
Money Supply M2 6298387.67 6363173 6379126 6387269 6390002 6392504 GEL Thousands [+]
Money Supply M3 15304596.05 15927557 16415320 16903302 17388655 23032271 GEL Thousands [+]
Foreign Exchange Reserves 2122900.00 2194964 2182090 2178134 2177854 2178387 GEL Thousands [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade -766.50 -893 -810 -756 -725 -676 USD Million [+]
Exports 194.20 200 199 199 199 199 USD Million [+]
Imports 960.70 987 918 886 872 859 USD Million [+]
Current Account -329.81 -349 -464 -344 -555 -452 USD Million [+]
Current Account to GDP -11.80 -11.49 -11.4 -11.32 -11.23 -10.93 percent [+]
Remittances 306686.00 240000 240000 310314 272000 295000 USD Thousands [+]
Foreign Direct Investment 463.30 459 445 455 445 449 USD Million [+]
External Debt 15332.35 15870 16087 16271 16515 19034 USD Million [+]
Capital Flows 328.40 430 526 462 493 474 USD Million [+]
Crude Oil Production 1.00 1 1 1 1 1 BBL/D/1K [+]
Terrorism Index 1.26 2.29 2.06 1.84 1.61 2.49 [+]
GOVERNMENT Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Government Debt to GDP 43.10 41.6 41.6 41.6 41.6 38.4 percent [+]
Government Budget -3.70 -2.8 -2.8 -2.77 -2.8 -3.15 percent of GDP [+]
Government Spending 3521.60 3529 4168 3536 4161 4122 GEL Million [+]
Government Revenues 638.00 711 712 715 715 715 GEL Million [+]
Fiscal Expenditure 637.70 743 731 733 736 735 GEL Million [+]
Military Expenditure 405.20 418 416 414 413 413 USD Million [+]
Government Budget Value 0.30 19.75 -0.68 15.08 9.27 11.94 GEL Million [+]
BUSINESS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Industrial Production 8.10 11.32 8.27 6.8 11.51 11.01 percent [+]
Manufacturing Production 6.00 7.1 7.1 18.22 6.1 13.4 percent [+]
Changes in Inventories 78.00 226 242 152 222 209 GEL Million [+]
Leading Economic Index 2.00 3.6 3.6 3.34 4.5 4.2 percent [+]
Mining Production 4.20 29.32 29.32 -19.77 21.2 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 22.54 20.72 14.16 14.81 22.25 [+]
Ease of Doing Business 16.00 16.89 16.5 16.11 15.71 15.63 [+]
Corruption Index 52.00 55.04 55.44 55.83 56.23 69.28 Points [+]
Corruption Rank 48.00 53 52 51 52 71 [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Retail Sales YoY 8.20 11.21 13.14 12.83 12.63 10.97 percent [+]
Consumer Spending 4978.80 5056 4909 4926 5283 5077 GEL Million [+]
Consumer Confidence -26.50 -22.95 -22.97 -23.77 -23.17 -23.37 [+]
TAXES Actual Q1/17 Q2/17 Q3/17 Q4/17 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. 1/23/2017