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 5.50 6 7.3 6 5.3 3.7 percent [+]
Interest Rate 6.75 6.75 7 7 7 6 percent [+]
Balance of Trade -411.80 -425 -374 -405 -414 -406 USD Million [+]
Government Debt to GDP 43.90 44.2 44.2 44.2 44.2 43.3 percent [+]
MARKETS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Currency 2.43 2.57 2.59 2.62 2.67 3.05 [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Annual Growth Rate 2.80 3.6 4.1 4.5 4.2 4.9 percent [+]
GDP 14.32 15.7 15.7 15.7 16 21 USD Billion [+]
GDP Constant Prices 7729.40 7427 7489 7517 7630 7610 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 502.80 386 475 456 501 492 GEL Million [+]
GDP From Construction 463.10 343 396 501 459 445 GEL Million [+]
GDP From Manufacturing 729.00 569 600 630 741 737 GEL Million [+]
GDP From Mining 71.10 59.52 71.03 59.59 70.96 70.57 GEL Million [+]
GDP From Public Administration 815.10 616 815 617 814 812 GEL Million [+]
GDP From Services 445.00 361 378 374 375 375 GEL Million [+]
GDP From Transport 478.90 449 449 467 480 474 GEL Million [+]
GDP From Utilities 202.60 162 145 141 202 201 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 606.00 611 608 607 605 606 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 1065.92 1012 1066 1012 1065 1063 GEL/Month [+]
Population 3.72 3.68 3.73 3.79 3.84 3.85 Million [+]
Wages In Manufacturing 902.00 794 843 851 904 896 GEL [+]
Youth Unemployment Rate 32.00 32.47 31.8 31.13 30.46 32.46 percent [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Retirement Age Women 60.00 60 60 60 60 60 [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate 5.50 6 7.3 6 5.3 3.7 percent [+]
Consumer Price Index CPI 124.50 125 126 126 126 126 Index Points [+]
GDP Deflator 104.70 105 105 106 105 105 Index Points [+]
Inflation Rate Mom 1.70 0.55 0.32 0.39 0.4 0.4 percent [+]
Producer Prices 137.60 139 143 145 145 146 Index Points [+]
Producer Prices Change 9.60 10.24 11.12 11.37 11.45 11.48 percent [+]
Food Inflation 5.50 5.6 5.49 5.39 5.47 5.44 percent [+]
Cpi Transportation 114.71 109 102 101 101 100 Index Points [+]
Export Prices 99.40 101 103 104 102 104 Index Points [+]
MONEY Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Interest Rate 6.75 6.75 7 7 7 6 percent [+]
Money Supply M0 2282039.88 2312910 2327443 2304466 2326215 2325634 GEL Thousands [+]
Deposit Interest Rate 8.90 9.3 8.64 7.99 7.33 5.13 percent [+]
Money Supply M1 4878334.26 4907661 4927521 4914792 4918089 4916953 GEL Thousands [+]
Money Supply M2 6318484.79 6362842 6407450 6348094 6404208 6399813 GEL Thousands [+]
Money Supply M3 15976224.09 16368504 16926767 17469527 18010521 24292545 GEL Thousands [+]
Foreign Exchange Reserves 2381117.00 2380702 2357804 2347086 2345866 2347483 GEL Thousands [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade -411.80 -425 -374 -405 -414 -406 USD Million [+]
Exports 178.90 181 182 183 183 183 USD Million [+]
Imports 590.70 614 584 579 578 579 USD Million [+]
Current Account -329.81 -349 -464 -344 -555 -452 USD Million [+]
Current Account to GDP -12.60 -11.27 -11.18 -11.08 -10.99 -12.21 percent [+]
Remittances 319249.00 240000 240000 318230 272000 295000 USD Thousands [+]
Foreign Direct Investment 463.30 459 445 455 445 449 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 [+]
External Debt 15332.35 15870 16087 16271 16515 19034 USD Million [+]
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 43.90 44.2 44.2 44.2 44.2 43.3 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 745.00 789 754 767 770 768 GEL Million [+]
Fiscal Expenditure 638.80 788 742 784 792 785 GEL Million [+]
Military Expenditure 405.20 418 416 414 413 413 USD Million [+]
Government Budget Value 106.20 12.69 13.4 8.73 12.64 11.43 GEL Million [+]
BUSINESS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Industrial Production 9.10 10.06 9.93 6.8 11.49 10.84 percent [+]
Manufacturing Production 9.10 7.1 7.1 7.89 6.1 13.4 percent [+]
Changes in Inventories 78.00 226 242 152 222 209 GEL Million [+]
Leading Economic Index 5.20 3.6 3.6 3.45 4.5 4.2 percent [+]
Mining Production -1.80 29.32 29.32 -13.49 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 17.50 13.6 4.81 8.84 6.02 3.08 [+]
Ease of Doing Business 16.00 16.89 16.5 16.11 15.71 15.63 [+]
Corruption Index 57.00 55 56 57 58 62 Points [+]
Corruption Rank 44.00 53 52 51 52 71 [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Retail Sales YoY 13.10 16.6 19.7 20.2 19.11 15.84 percent [+]
Consumer Spending 4978.80 5056 4909 4926 5283 5077 GEL Million [+]
Consumer Confidence -26.70 -23.46 -23.32 -24.14 -23.58 -23.75 [+]
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. 3/29/2017