GDP, current US$ billion
GDP per capita, current US$
Life Expectancy at birth, years
Georgia has made much progress over the past decade. Georgia has been growing faster than other upper middle-income countries, and GNI per capita increased from $3,048 in 2010 to $5,073 in 2022 (constant 2015 USD). The poverty rate (measured by the national poverty line) was more than halved over the same period. Georgia has a solid foundation to continue growing fast, including a favorable business environment, but it also faces some structural challenges. These include population ageing, weak productivity growth, limited high-quality job creation, and poor learning outcomes. More than a third of all workers remain engaged in low-productivity agriculture. Despite its trade openness, reliance on tourism, relatively high levels of dollarization, and dependence on foreign savings, Georgia has shown resilience to recent shocks, supported by sound macroeconomic management, although some fiscal risks stemming from state-owned enterprises remain. Going forward, getting ready for the energy transition, improving climate adaptation and environmental protection would also be key. The application for EU candidacy initiated in 2022 provides opportunities for further income convergence while requiring significant and sustained reforms.
Last Updated: Oct 09, 2023