Economy of Georgia (country)
Economy of Georgia
Currency
1 Georgian lari (GEL) = 100
tetri
Fiscal year
1 January - 31 December
Trade
organisations
WTO, GUAM and others
Statistics
GDP
$19.65 billion (2007 est.)
GDP growth
12.4% (2007 est.)
GDP per capita $4,700 (2007 est.) (PPP)
(108th)
GDP by sector
agriculture (10.9%), industry
(24.1%), services (65.0%)
(2007)[1]
Inflation (CPI)
10% (2006 est.)
Population
below poverty
line
31% (2006)
Labour force
2.02 million (2007 est.)
Labour force
by occupation
agriculture (40%),
manufacturing (20%),
services (40%)(1999)
Unemployment 12.6% (2004 est.)
Main
industries
steel, aircraft, machine
tools, electrical appliances,
mining (manganese and
copper), chemicals, wood
products, wine
External
Exports
$1.24 billion (2007 est.)
Export goods
wine, mineral water, ores,
vehicles, fruits and nuts
Main export
partners
Turkey 13.9%, US 12.1%,
Azerbaijan 11.2%, Ukraine
7.6%, Armenia 5.9%, Russia
3.7%, (2007)[2]
Imports
$5.2 billion (2007 est.)
Import goods
machinery and equipment,
fuels, chemicals, metals,
foodstuffs
Main import
partners
Turkey 14.0%,Russia 11.1%,
Ukraine 11.0%, Germany
7.4%, Azerbaijan 7.3%
(2007)[2]
FDI stock
$5.2 billion (2007 est.)
(102th)
Public finances
Public Debt
$1.76 billion (2006)
Revenues
$3.68 billion (2007 est.)
Expenses
$3.08 billion (2007 est.)
Economic aid
ODA $309.8 million (2005
est.)
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US
dollars
Despite the severe damage the economy of
Georgia 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 robust GDP
growth and curtailing inflation.
GDP growth, spurred by gains in the in-
dustrial and service sectors, remained in the
9-12% range in 2005-07. In 2006, the World
Bank named Georgia the top reformer in the
world.[3]
History
Georgia’s economy has traditionally revolved
around Black Sea tourism, cultivation of cit-
rus fruits, tea and grapes; mining of man-
ganese and copper