Key Macroeconomic Indicators and International Ratings
    Title
    Year
    Years
    Name
    2017
    2018
    2019
    2020
    2021
    2022
    2023
    Source:
    Population, end of the year (thousand)
    3,730
    3,723
    3,717
    3,729
    3,689
    3,736
    3,695
    Geostat
    Unemployment Rate
    21.6%
    19.2%
    17.6%
    18.5%
    20.6%
    17.3%
    16.4%
    Geostat
    Annual Inflation, end of period
    6.7%
    1.5%
    7.0%
    2.4%
    13.9%
    9.8%
    0.4%
    Geostat
    GDP, Bill. GEL
    41.3
    45.4
    49.7
    49.8
    60.7
    72.9
    80.9
    Geostat
    GDP, Bill. USD
    16.5
    17.9
    17.6
    16.0
    18.9
    25.0
    30.8
    Geostat
    GDP real growth
    5.2%
    6.1%
    5.4%
    -6.3%
    10.6%
    11.0%
    7.8%
    Geostat
    GDP per capita, USD
    4,420
    4,804
    4,741
    4,301
    5,084
    6,731
    8,284
    Geostat
    GDP per capita, PPP (current international $)
    13,725
    15,010
    16,755
    16,817
    18,814
    22,604
    24,952
    IMF
    Saving Rate (National savings/GNDI)
    16.7%
    20.5%
    20.6%
    11.4%
    9.8%
    18.5%
    18.9%
    NBG calculations
    CA/GDP
    -7.9%
    -6.7%
    -6.0%
    -12.4%
    -10.3%
    -4.4%
    -5.5%
    NBG calculations
    Trade openess (Export of goods and services+Import of goods and services)/GDP
    102.6%
    109.8%
    117.4%
    93.0%
    102.1%
    115.7%
    107.2%
    NBG calculations
    FDI/GDP
    12.1%
    7.5%
    7.8%
    3.7%
    6.7%
    8.9%
    6.3%
    NBG calculations
    International Reserves, Bill USD
    3.0
    3.3
    3.5
    3.9
    4.3
    4.9
    5.0
    NBG
    International Reserves in months of G&S imports
    3.9
    3.7
    3.8
    5.2
    4.6
    3.8
    3.4
    NBG calculations
    Gross External Debt/GDP
    105.2%
    99.9%
    107.7%
    131.2%
    117.4%
    95.8%
    79.5%
    NBG calculations
    Public External Debt/GDP
    32.1%
    30.1%
    32.5%
    46.4%
    42.2%
    32.2%
    28.1%
    NBG calculations
    REER, annual average change
    -2.2%
    1.0%
    -5.4%
    -2.9%
    1.7%
    18.7%
    11.6%
    NBG
    Fiscal deficit/GDP
    -2.9%
    -2.1%
    -2.0%
    -9.2%
    -6.0%
    -3.0%
    -2.4%
    NBG calculations
    Commercial Banks Loans, Billion GEL
    22.3
    26.6
    31.9
    38.2
    43.1
    44.8
    52.7
    NBG
    Commercial Banks Loans Growth
    17.9%
    19.4%
    20.0%
    19.7%
    12.7%
    4.0%
    17.7%
    NBG
    Commercial Banks' Loans Growth, excl. ExR Effect
    18.6%
    17.8%
    16.2%
    9.1%
    18.2%
    12.1%
    17.2%
    NBG
    Deposits in Commercial Banks, Billion GEL
    19.9
    23.1
    26.3
    34.6
    37.2
    44.3
    50.6
    NBG
    Deposits in Commercial Banks, Growth
    16.8%
    16.1%
    13.9%
    31.9%
    7.5%
    18.9%
    14.3%
    NBG
    Deposits in Commercial Banks, Growth, excl. ExR Effect
    17.0%
    14.4%
    9.3%
    20.8%
    12.2%
    29.6%
    14.1%
    NBG
    Commercial Banks' assets/GDP
    83.7%
    87.5%
    94.9%
    114.2%
    99.7%
    96.6%
    98.9%
    NBG calculations
    Deposit Dolarization Ratio (Banking sector)
    65.3%
    63.1%
    64.0%
    61.4%
    60.0%
    56.1%
    50.7%
    NBG
    Loans Dolarization Ratio (Banking sector)
    57.1%
    57.1%
    55.4%
    55.7%
    50.9%
    45.0%
    45.2%
    NBG
    Monetary Policy Rate
    7.3%
    7.0%
    9.0%
    8.0%
    10.5%
    11.0%
    9.50%
    NBG
    Lending Rate, National Currency
    16.8%
    15.7%
    15.4%
    14.4%
    15.7%
    16.2%
    15.2%
    NBG
    Lending Rate, Foreign Currency
    7.9%
    7.6%
    6.3%
    6.9%
    6.3%
    8.6%
    9.0%
    NBG
    S&P
    BB-
    BB-
    BB
    BB
    BB
    BB
    BB
    Standard & Poor's Ratings Services
    FITCH
    BB-
    BB-
    BB
    BB
    BB
    BB
    BB
    Fitch Ratings
    MOODY'S
    Ba2
    Ba2
    Ba2
    Ba2
    Ba2
    Ba2
    Ba2
    Moody's Corporation
    SCOPE
    BB
    BB
    BB
    BB
    BB
    BB
    Scope Ratings
    Human Development Index (rank/countries)
    0.780 (70/189)
    0.786 (70/189)
    0.812 (61/189)
    0.802 (64/191)
    0.802 (63-65/191)
    0.814(60-61/193)
    UNDP
    Global Competitiveness Index rank (position/countries)
    4.28 (67/135)
    60.9 (66/140)
    60.6 (74/141)
    World Economic Forum
    Doing Business (rank/countries)
    9/190
    9/190
    6/190
    7/190
    World Bank