Asia > Georgia > Economy

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Agriculture > products citrus, grapes, tea, hazelnuts, vegetables; livestock
Aid as % of GDP	5.6%		[46th of 129]
Definition: Economy > Aid as % of GDP
Source: CIA World Factbook, 28 July 2005
Big Mac Index	$2.00		[45th of 65]
Definition: Economy > Big Mac Index
Source: calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC
Debt > External	$4,500,000,000.00		[96th of 136]
Definition: Economy > Debt > External
Source: The Economist.
Distribution of family income > Gini index	40.4		[16th of 43]
Definition: Economy > Distribution of family income > Gini index
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Economic freedom	1.6		[118th of 156]
Definition: Economy > Economic freedom
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Economy > Overview Georgia's economy has sustained robust GDP growth of close to 10% in 2006 and 12% in 2007, based on strong inflows of foreign investment and robust government spending. However, a widening trade deficit and higher inflation are emerging risks to the economy. Areas of recent improvement include increasing foreign direct investment as well as growth in the construction, banking services and mining sectors. Georgia's main economic activities include the cultivation of agricultural products such as grapes, citrus fruits, and hazelnuts; mining of manganese and copper; and output of a small industrial sector producing alcoholic and nonalcoholic beverages, metals, machinery, aircraft and chemicals. The country imports nearly all its needed supplies of natural gas and oil products. It has sizeable hydropower capacity, a growing component of its energy supplies. Despite the severe damage the economy suffered due to civil strife in the 1990s, Georgia, with the help of the IMF and World Bank, has made substantial economic gains since 2000, achieving positive GDP growth and curtailing inflation. Georgia's GDP growth neared 10% in 2006 and 2007 despite restrictions on commerce with Russia. Areas of recent improvement include increased foreign direct investment as well as growth in the construction, banking services, and mining sectors. In addition, the reinvigorated privatization process has met with success. However, a widening trade deficit and higher inflation are emerging risks to the economy. Georgia has suffered from a chronic failure to collect tax revenues; however, the new government is making progress and has reformed the tax code, improved tax administration, increased tax enforcement, and cracked down on corruption. Government revenues have increased nearly four fold since 2003. Due to improvements in customs and financial (tax) enforcement, smuggling is a declining problem. Georgia has overcome the chronic energy shortages of the past by renovating hydropower plants and by bringing newly available natural gas supplies from Azerbaijan. It also has an increased ability to pay for more expensive gas imports from Russia. The country is pinning its hopes for long-term growth on a determined effort to reduce regulation, taxes and corruption in order to attract foreign investment. The construction on the Baku-T'bilisi-Ceyhan oil pipeline, the Baku-T'bilisi-Erzerum gas pipeline, and the Kars-Akhalkalaki Railroad are part of a strategy to capitalize on Georgia's strategic location between Europe and Asia and develop its role as a transit point for gas, oil and other goods.
Definition: Economy > Economy > Overview
Source: The Heritage Foundation
Exports	$2,104,000,000.00		[121st of 189]
Definition: Economy > Exports
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
GDP	$7,550,170,000.00		[109th of 203]
Definition: Economy > GDP
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
GDP > PPP	$13,461,000,000.00		[116th of 163]
Definition: Economy > GDP > PPP
Source: World Development Indicators database and CIA World Factbook
GDP > Real growth rate	12%		[7th of 198]
Definition: Economy > GDP > Real growth rate
Source: World Bank. 2005. World Development Indicators 2005.
GINI index	40.44		[17th of 40]
Definition: Economy > GINI index
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Gross National Income	$3,094,980,000.00		[119th of 172]
Definition: Economy > Gross National Income
Source: World Development Indicators database
Human Development Index	0.732		[100th of 178]
Definition: Economy > Human Development Index
Income category	Low income
Definition: Economy > Income category
Source: Human Development Report 2006, United Nations Development Programme
Income distribution > Poorest 10%	2.3%		[73rd of 114]
Definition: Economy > Income distribution > Poorest 10%
Source:
Income distribution > Richest 10%	27.9%		[72nd of 114]
Definition: Economy > Income distribution > Richest 10%
Source: World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC
Population below poverty line	31%		[8th of 46]
Definition: Economy > Population below poverty line
Source: World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC
Poverty > Share of all poor people	0.01 % of world's poor		[77th of 80]
Definition: Economy > Poverty > Share of all poor people
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Tourist arrivals	313,000		[88th of 152]
Definition: Economy > Tourist arrivals
Source: Country Responsibilities in Achieving the Millenium Development Goals", April 8 2003, by Janice Poling

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