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 Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 13.90 13.57 10.9 13.85 13.9 10 percent
Inflation Rate 2.20 2.8 3 3 3 3.1 percent
Interest Rate 7.25 7.25 7.25 7.25 6.75 6 percent
Balance of Trade -462.30 -478 -490 -490 -488 -488 USD Million
Government Debt to GDP 43.90 44.4 44.4 44 44 43.3 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 2.43
2.48 2.53 2.58 2.64 2.86
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Annual Growth Rate 5.30
percent
4.5 5 4.9 5.3 4.4
GDP 15.16
USD Billion
15.9 15.9 20 20 21
GDP Constant Prices 6323.30
GEL Million
7574 8555 6633 7198 9333
Gross Fixed Capital Formation 2458.80
GEL Million
2939 3696 2579 2772 4033
GDP per capita 4290.17
USD
4416 4416 4554 4554 4678
GDP per capita PPP 9745.10
USD
9894 9894 10045 10045 10127
Gross National Product 8712.90
GEL Million
9485 10798 9140 9067 11780
GDP From Agriculture 344.80
GEL Million
475 503 362 490 549
GDP From Construction 367.10
GEL Million
599 561 385 475 612
GDP From Manufacturing 620.90
GEL Million
644 787 651 609 858
GDP From Mining 67.10
GEL Million
55.52 78.65 70.39 66.97 85.8
GDP From Public Administration 498.40
GEL Million
701 880 523 853 961
GDP From Services 327.20
GEL Million
391 494 343 370 539
GDP From Transport 450.10
GEL Million
483 537 472 496 586
GDP From Utilities 177.80
GEL Million
145 221 187 149 241
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 13.90
percent
13.57 10.9 13.85 13.9 10
Employed Persons 637.00
Thousand
622 623 623 625 626
Unemployed Persons 276.40
Thousand
268 268 269 270 267
Labor Force Participation Rate 65.80
percent
65.64 65.56 65.37 65.17 63.9
Wages 1059.22
GEL/Month
1160 1250 1160 1116 1400
Population 3.73
Million
3.85 3.71 3.89 3.89 3.88
Wages In Manufacturing 885.00
GEL
960 980 1000 963 1200
Youth Unemployment Rate 27.10
percent
27.48 27 26.68 26.65 25
Retirement Age Men 65.00
65 65 65 65 65
Retirement Age Women 60.00
60 60 60 60 60
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 2.20
percent
2.8 3 3 3 3.1
Consumer Price Index CPI 126.40
Index Points
127 131 131 130 139
GDP Deflator 104.30
Index Points
104 103 104 104 104
Import Prices 100.90
Index Points
101 100 100 100 100
Producer Prices 143.70
Index Points
148 154 154 153 175
Producer Prices Change 6.80
percent
6.68 6.6 6.58 6.58 6.57
Inflation Rate Mom -0.60
percent
0.28 0.27 0.27 0.27 0.27
Food Inflation 0.70
percent
0.49 0.49 0.49 0.49 0.49
CPI Transportation 100.82
Index Points
118 121 105 104 129
Export Prices 102.40
Index Points
99.73 100 100 100 100
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 7.25
percent
7.25 7.25 7.25 6.75 6
Money Supply M0 2480576.82
GEL Thousands
2496581 2498698 2499127 2499202 2499220
Deposit Interest Rate 9.65
percent
9.65 9.65 9.65 9.15 8.4
Money Supply M1 5557041.63
GEL Thousands
5561403 5564811 5565668 5565863 5565921
Money Supply M2 8420534.77
GEL Thousands
8566292 8629592 8667455 8688230 8714513
Money Supply M3 18037847.49
GEL Thousands
18607653 19039135 19469003 19896676 24058465
Foreign Exchange Reserves 2554937.00
GEL Thousands
2557718 2552843 2553260 2554327 2554790
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade -462.30
USD Million
-478 -490 -490 -488 -488
Exports 308.90
USD Million
290 290 291 291 291
Imports 771.20
USD Million
768 781 781 779 779
Current Account -435.30
USD Million
-347 -352 -386 -566 -560
Current Account to GDP -13.30
percent
-11 -11 -10 -10 -9
Terrorism Index 2.11
2.75 2.99 3.09 3.19 3.75
Remittances 354973.00
USD Thousands
386600 281000 375928 383542 295000
Foreign Direct Investment 279.30
USD Million
410 371 379 373 376
Capital Flows 411.70
USD Million
412 451 432 444 438
Crude Oil Production 0.40
BBL/D/1K
0.4 0.4 0.4 0.4 0.4
External Debt 17466.75
USD Million
18052 18371 18672 18981 21874
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 43.90
percent
44.4 44.4 44 44 43.3
Government Budget -4.00
percent of GDP
-3.6 -3.6 -2.84 -2.64 -3.2
Government Spending 1518.30
GEL Million
1694 2026 1593 1606 2210
Government Revenues 809.60
GEL Million
838 835 837 837 837
Fiscal Expenditure 712.60
GEL Million
759 758 758 758 758
Military Expenditure 331.52
USD Million
332 326 324 322 324
Government Budget Value 97.00
GEL Million
78.68 78.14 79.16 79.5 79.34
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Industrial Production 13.50
percent
11.87 11.04 14.14 12.72 14.57
Manufacturing Production 16.70
percent
10.88 7.6 5.8 5.82 13.4
Changes in Inventories 383.60
GEL Million
285 439 327 444 434
Leading Economic Index 7.50
percent
4.83 3.9 3.98 3.92 4.2
Internet Speed 8774.17
KBps
9692 9920 10154 10343 12083
IP Addresses 508938.00
IP
526370 528599 532688 535458 565410
Mining Production 12.90
percent
8.2 18.7 6.03 5.53 22
Competitiveness Index 4.28
Points
4.32 4.32 4.25 4.22 4.13
Competitiveness Rank 67.00
61 61 67 68 70
Business Confidence 28.00
Index Points
19.79 21.75 21.09 22.43 21.86
Ease of Doing Business 9.00
14 14 14 14 16
Corruption Index 56.00
Points
57 57 57 57 59
Corruption Rank 46.00
46 46 47 47 47
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Retail Sales YoY 16.70
percent
16.48 14.51 15.14 14.82 15.72
Consumer Spending 6062.90
GEL Million
5505 6786 6360 5636 7404
Consumer Confidence -19.00
Index Points
-18.74 -18.75 -18.75 -18.75 -18.75
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 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 Q3/18 Q4/18 Q1/19 Q2/19 2020
Precipitation 60.97
mm
78.86 68.65 59.35 77.44 78.32
Temperature -3.49
celsius
17.32 4.3 -0.85 16.1 8.3