Sunday, June 30, 2019

Republic of Georgia Economy


Population 3.9 million. Land Area 26,911 square miles. Nominal GDP $16.3 billion. GDP Rank 118th. Nominal Per Capita GDP $4,400. GDP growth 4.6%.

GDP by sector Industry 24.6%, trade 12.4%, construction 11.3%, transportation & communication 9.5%, agriculture 8.1%, other 34.1%. Labor force by occupation agriculture 8.2%, industry 23.7%, services 37.9%. Labor force 2 million. Labor force participation 50%. Unemployment 11.8%, Inflation 2.5%, Poverty 9.2%. Average gross salary $4,836. Average net salary $3,864.

Main industries are steel, machine tools, electrical appliances, mining manganese, copper and gold, chemicals, wood products, wine, Ease of doing business 6th.

Exports $3.566 billion in vehicles, ferro-alloys, fertilizers, nuts, scrap metal, gold and copper ore sold to Russia 14.5%, Azergaijan 10%, Turkey 7.9%, Armenia 7.7%, China 7.6%, Bulgaria 6.6%, Ukraine 4.6%, US 4.5%.

Imports $7.416 billion in fuels, vehicles, machinery and parts, grain, food and pharmaceuticals bought from Turkey 17.2%, Russia 9.9%, China 9.2%, Azerbaijan 7.6%, Germany 5.4%.

Government revenue $4.352 billion, spending $4.925 billion. Debt to GDP 44.9%, External debt $16.99 billion. Foreign Reserves $3 billion.


Norb Leahy, Dunwoody GA Tea Party Leader

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