Georgia - Economic Forecasts - 2018-2020 Outlook

This page has 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.


Overview Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 11.80 10.9 11.37 10.9 11.2 10 percent
Inflation Rate 2.50 2.7 2.8 3 3 3.1 percent
Interest Rate 7.25 7.25 7.25 7.25 7.25 6 percent
Balance of Trade -501.30 -421 -414 -400 -406 -350 USD Million
Government Debt to GDP 43.90 44.4 44.4 44.4 44 43.3 percent
MARKETS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Currency 2.43
2.42 2.47 2.52 2.57 2.78
GDP Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Annual Growth Rate 5.40
percent
4.7 4.5 5 4.9 4.4
GDP 14.32
USD Billion
13.95 14.47 18 20 21
GDP Constant Prices 8147.20
GEL Million
6996 7574 8555 6310 9333
Gross Fixed Capital Formation 3520.30
GEL Million
2694 2939 3696 2319 4033
GDP per capita 4079.80
USD
4030 3837 4087 3641 3425
GDP per capita PPP 9267.30
USD
9173 9239 9304 8425 7982
Gross National Product 9275.90
GEL Million
8813 9485 9855 8215 10751
GDP From Agriculture 479.10
GEL Million
476 475 503 381 549
GDP From Construction 534.40
GEL Million
461 599 561 428 612
GDP From Manufacturing 749.10
GEL Million
592 644 787 594 858
GDP From Mining 74.90
GEL Million
65.09 55.52 78.65 63.15 85.8
GDP From Public Administration 838.50
GEL Million
829 701 880 496 961
GDP From Services 470.60
GEL Million
359 391 494 310 539
GDP From Transport 511.40
GEL Million
482 483 537 478 586
GDP From Utilities 210.10
GEL Million
145 145 221 167 241
LABOUR Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 11.80
percent
10.9 11.37 10.9 11.2 10
Employed Persons 660.10
Thousand
645 645 645 645 645
Unemployed Persons 235.10
Thousand
230 219 209 205 171
Labor Force Participation Rate 67.50
percent
67.1 67.26 67.43 67.36 65.77
Wages 1140.91
GEL/Month
1160 1160 1250 1160 1400
Population 3.73
Million
3.71 3.81 3.71 3.86 4.17
Wages In Manufacturing 1000.00
GEL
920 960 980 1000 1200
Youth Unemployment Rate 30.00
percent
27 32.63 27 33.1 25
Retirement Age Men 65.00
65 65 65 65 65
Retirement Age Women 60.00
60 60 60 60 60
PRICES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Inflation Rate 2.50
percent
2.7 2.8 3 3 3.1
Consumer Price Index CPI 127.30
Index Points
127 127 131 131 139
GDP Deflator 106.10
Index Points
106 106 106 106 106
Import Prices 99.70
Index Points
102 101 101 101 101
Producer Prices 144.50
Index Points
153 152 161 162 197
Producer Prices Change 6.50
percent
13.59 9.56 10.52 11.78 10.86
Inflation Rate Mom -0.20
percent
0.3 0.29 0.29 0.29 0.29
Food Inflation 2.10
percent
4.19 4.18 4.18 4.18 4.18
CPI Transportation 99.63
Index Points
120 118 121 105 129
Export Prices 99.40
Index Points
101 101 101 101 101
MONEY Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Interest Rate 7.25
percent
7.25 7.25 7.25 7.25 6
Money Supply M0 2410395.12
GEL Thousands
2444570 2527123 2507490 2443571 2467163
Deposit Interest Rate 9.65
percent
7.66 7.77 7.88 8.1 8.02
Money Supply M1 5428201.49
GEL Thousands
5341380 5328665 5319903 5311363 5219037
Money Supply M2 8225157.97
GEL Thousands
7920601 7434069 7137678 7120568 7535970
Money Supply M3 17756925.75
GEL Thousands
17227348 17102856 17010529 16942056 16752849
Foreign Exchange Reserves 2480060.00
GEL Thousands
2442799 2962612 3099451 2684688 2912767
TRADE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Balance of Trade -501.30
USD Million
-421 -414 -400 -406 -350
Exports 229.20
USD Million
236 235 230 232 236
Imports 730.40
USD Million
656 649 644 639 586
Current Account -582.10
USD Million
-496 -322 -352 -352 -512
Current Account to GDP -13.30
percent
-11 -11 -11 -10 -9
Terrorism Index 2.11
2.51 2.75 2.99 3.09 3.75
Remittances 383422.00
USD Thousands
349080 351837 281000 355213 295000
Foreign Direct Investment 497.40
USD Million
425 409 384 372 322
Capital Flows 541.70
USD Million
281 281 281 281 281
Crude Oil Production 0.40
BBL/D/1K
0.55 0.62 0.69 0.75 1.14
External Debt 17203.49
USD Million
17689 17940 18261 18546 21610
GOVERNMENT Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Government Debt to GDP 43.90
percent
44.4 44.4 44.4 44 43.3
Government Budget -4.00
percent of GDP
-3.6 -3.6 -3.6 -2.84 -3.2
Government Spending 1929.60
GEL Million
1561 1694 2026 1453 2210
Government Revenues 975.50
GEL Million
844 851 855 854 854
Fiscal Expenditure 727.90
GEL Million
805 811 811 812 812
Military Expenditure 331.52
USD Million
322 306 291 293 304
Government Budget Value 9.20
GEL Million
38.43 40.27 42.94 42.16 41.88
BUSINESS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Industrial Production 20.60
percent
20.41 20.2 20.34 20.25 20.28
Manufacturing Production 0.90
percent
11 19.45 7.6 17.4 13.4
Changes in Inventories 512.00
GEL Million
376 227 406 266 389
Leading Economic Index 5.60
percent
4.06 3.8 3.9 3.72 4.2
Internet Speed 8774.17
KBps
9543 9692 9920 10154 12083
IP Addresses 508938.00
IP
521144 526370 528599 532688 565410
Mining Production 0.00
percent
1.22 1.27 18.7 1.29 22
Competitiveness Index 4.28
Points
4.32 4.32 4.32 4.22 4.13
Competitiveness Rank 67.00
63 63 63 63 63
Business Confidence 28.00
Index Points
20.33 17.83 20.4 20.7 21.5
Ease of Doing Business 9.00
11 11 12 14 14
Corruption Index 56.00
Points
56 56 56 56 56
Corruption Rank 46.00
46 46 46 46 46
CONSUMER Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Retail Sales YoY 21.00
percent
17.36 17.36 17.36 17.36 17.36
Consumer Spending 6463.20
GEL Million
5478 5505 6786 6094 7404
Consumer Confidence -18.90
Index Points
-18.09 -18.16 -18.22 -18.26 -18.41
TAXES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Corporate Tax Rate 15.00
percent
15 15 15 15 15
Personal Income Tax Rate 20.00
percent
20 20 20 20 20
Sales Tax Rate 18.00
percent
18 18 18 18 18
CLIMATE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Precipitation 60.97
mm
99.7 78.86 68.65 59.35 78.32
Temperature -3.49
celsius
11.68 17.32 4.3 -0.85 8.3