Georgia - Economy
How is the economy of Georgia? Based on the information we have, Georgia has a

main economic activities include cultivation of agricultural products, such as grapes, citrus fruits, and hazelnuts; mining of manganese, copper, and gold; producing alcoholic and nonalcoholic beverages

. Key agricultural products in this country include: milk, grapes, potatoes, wheat, maize, apples, watermelons, barley, tangerines/mandarins, tomatoes (2022).
More about the economy of Georgia
Labor force 1.853 million (2023 est.)
Industrial production growth rate 6.15% (2023 est.)
Industries steel, machine tools, electrical appliances, mining (manganese, copper, gold), chemicals, wood products, wine
Population below poverty line 15.6% (2022 est.)
Taxes and other revenues 22.9% (of GDP) (2022 est.)
Fiscal year
Exchange rates
Currency laris (GEL) per US dollar -
Exchange rates 2023 2.628 (2023 est.)
Exchange rates 2022 2.916 (2022 est.)
Exchange rates 2021 3.222 (2021 est.)
Exchange rates 2020 3.109 (2020 est.)
Exchange rates 2019 2.818 (2019 est.)
Debt - external
Debt - external 2022 $6.976 billion (2022 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $5.002 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $4.886 billion (2022 est.)
Reserves of foreign exchange and gold 2021 $4.271 billion (2021 est.)
Current account balance
Current account balance 2023 -$1.326 billion (2023 est.)
Current account balance 2022 -$1.12 billion (2022 est.)
Current account balance 2021 -$1.943 billion (2021 est.)
Public debt
Public debt 2022 42.97% of GDP (2022 est.)
Budget
Revenues $6.712 billion (2022 est.)
Expenditures $6.23 billion (2022 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 14.74% of GDP (2023 est.)
Remittances 2022 15.42% of GDP (2022 est.)
Remittances 2021 14.02% of GDP (2021 est.)
Household income
Lowest 10% 2.7% (2021 est.)
Highest 10% 26.2% (2021 est.)
Average household expenditures
On food 32.1% of household expenditures (2022 est.)
On alcohol and tobacco 3.4% of household expenditures (2022 est.)
Imports
Imports 2023 $17.791 billion (2023 est.)
Imports 2022 $15.665 billion (2022 est.)
Imports 2021 $11.151 billion (2021 est.)
Imports (partners) Turkey 17%, Russia 12%, China 8%, US 8%, Germany 5% (2022)
Comodities Imports force cars, refined petroleum, natural gas, packaged medicine, copper ore (2022)
Exports
Imports 2023 $17.791 billion (2023 est.)
Imports 2022 $15.665 billion (2022 est.)
Imports 2021 $11.151 billion (2021 est.)
Exports (partners) China 11%, Azerbaijan 10%, Russia 9%, Armenia 8%, Bulgaria 7% (2022)
Comodities Exports force copper ore, cars, fertilizers, iron alloys, wine (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $83.656 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $77.838 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $70.151 billion (2021 est.)
GDP (official exchange rate) $30.536 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $22,200 (2023 est.)
Real GDP per capita 2022 $21,000 (2022 est.)
Real GDP per capita 2021 $18,900 (2021 est.)
GDP - composition, by sector of origin
Agriculture 6% (2023 est.)
Industry 19% (2023 est.)
Services 61.7% (2023 est.)
GDP - composition, by end use
Household consumption 68.9% (2023 est.)
Government consumption 12.7% (2023 est.)
Investment in fixed capital 21.5% (2023 est.)
Investment in inventories 4.5% (2023 est.)
Exports of goods and services 49.4% (2023 est.)
Imports of goods and services -56.9% (2023 est.)
Unemployment rate
Unemployment rate 2023 11.62% (2023 est.)
Unemployment rate 2022 11.66% (2022 est.)
Unemployment rate 2021 11.79% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 30.2% (2023 est.)
Male 28.7% (2023 est.)
Female 32.7% (2023 est.)
All Important Facts about Georgia

Want to know more about Georgia? Check all different factbooks for Georgia below.

Georgia is found in Western Asia