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).Labor force | 1.853 million (2023 est.) |
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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.) |
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