Georgia
Description of Georgia
Welcome to our comprehensive analysis of the country of Georgia. Situated at the crossroads of Eastern Europe and Western Asia, Georgia has a rich history and a strategic geopolitical position. As we delve into the macroeconomic landscape of Georgia, we will explore key indicators, such as GDP growth, trade dynamics, and geopolitical relationships, to provide insights into the country's development and its place in the global arena.
Population And Age Structure
- Georgia's total population is 3,722,716, which is significantly below the average total population of
40,097,746. This places Georgia at a rank of 129 out of 194 countries.
- The percentage of the population aged 0-14 in Georgia is 20.91%, lower than the average of 27.34%.
Georgia ranks 120 out of 194 countries.
- The total number of people aged 0-14 in Georgia is 778,310, below the average of 10,327,379. Georgia
ranks 133 out of 194 countries.
- Georgia's population aged 15-64 accounts for 64.59% of the total population, slightly above the average
of 63.44%. Georgia ranks 98 out of 194 countries.
- The total population aged 15-64 in Georgia is 2,404,553, lower than the average of 26,003,407. Georgia
ranks 129 out of 194 countries.
- The percentage of the population aged 65 and above in Georgia is 14.50%, higher than the average of
9.22%. This places Georgia at a rank of 52 out of 194 countries.
- Georgia has 539,853 people aged 65 and above, below the average of 3,766,959. Georgia ranks 95 out of
194 countries.
Summary
Georgia has a smaller total population compared to the global average, with a higher percentage of elderly citizens than typical. Despite having a relatively young working-age population, Georgia ranks lower in the total number of individuals in this age group compared to the average. The higher proportion of elderly individuals could have implications for healthcare and pension systems, highlighting potential challenges in supporting an aging population and ensuring economic productivity.
Population Miscellaneous
Rural population in Georgia is 1,509,450, which is significantly below the average of 18,044,041. Georgia ranks 114 out of 190 countries in this category.
Rural population (% of total population) in Georgia is 40.547%, slightly below the average of 41.158%. The country is ranked 96 out of 190.
Urban population in Georgia is 2,213,266, well below the average of 22,425,747. Georgia holds the 129th position out of 194 countries.
Urban population (% of total population) in Georgia is 59.453%, slightly lower than the average of 59.691%. The country ranks 99 out of 194.
Age dependency ratio (% of working-age population) in Georgia is 54.819%, lower than the average of 59.219%. Georgia's rank is 97 out of 194.
Georgia has a crude birth rate of 12.966 per 1,000 people, below the average of 19.384. The country ranks 120 out of 192.
The crude death rate in Georgia is 13.976 per 1,000 people, higher than the average of 8.214. Georgia ranks 13 out of 192 countries.
The total fertility rate in Georgia is 1.971 births per woman, lower than the average of 2.603. Georgia holds the 106th position out of 190 countries.
Summary
Georgia has a relatively low rural population compared to the global average, ranking 114th in the world. The country also has a lower urban population, age dependency ratio, crude birth rate, and total fertility rate compared to the global averages. However, Georgia has a higher crude death rate than the global average, ranking 13th globally.
These statistics are crucial for policymakers and analysts as they provide insights into the demographic composition and health indicators of the country. They can help in understanding the country's development needs, healthcare requirements, and potential challenges related to an aging population or low fertility rates.
Military
Georgia's military expenditure in current USD is significantly below the average of $12,904,993,617. The country ranks 103 out of 149 countries in this metric. In terms of military expenditure as a percentage of GDP, Georgia's value of 1.81% is slightly below the average of 1.90%. With a rank of 57 out of 148 countries, Georgia is fairly close to the average in this aspect.
The total number of armed forces personnel in Georgia stands at 26,000, which is significantly lower than the average of 165,908 personnel. This places Georgia at rank 93 out of 164 countries in terms of total armed forces personnel. Additionally, Georgia's armed forces personnel as a percentage of the total labor force is 1.39%, higher than the average of 1.28%. This places Georgia at rank 44 out of 164 countries.
Summary
Georgia's military expenditure and total armed forces personnel numbers are below global averages, indicating a relatively smaller military presence compared to other countries. However, the country's armed forces personnel as a percentage of the total labor force is slightly higher than average, reflecting a significant commitment to its military sector despite resource constraints. These findings are crucial for understanding Georgia's defense capabilities, strategic positioning, and potential for military alliances or conflicts in the region.
Natural Resources
Analysis of Key Statistics for Georgia:
- Forest area: Georgia has 28,224 sq. km of forest area, ranking 92 out of 191 countries. This is below the average forest area of 211,606.11 sq. km.
- Land area: With a land area of 69,490 sq. km, Georgia ranks 118 out of 194 countries, below the average land area of 665,166.51 sq. km.
- Surface area: Georgia's surface area of 69,700 sq. km places it at rank 121 out of 194 countries, below the average surface area of 689,779.56 sq. km.
- Arable land: Georgia has 310,000 hectares of arable land, ranking 136 out of 190 countries. This is below the average arable land of 7,329,543.16 hectares.
- Land under cereal production: With 155,833 hectares of land under cereal production, Georgia ranks 129 out of 174 countries, below the average of 4,206,011.63 hectares.
- Average precipitation in depth: Georgia receives an average annual precipitation depth of 1,026 mm, ranking 91 out of 178 countries. This is slightly below the average of 1,157.83 mm.
- Renewable internal freshwater resources: Georgia has 58.13 billion cubic meters of renewable internal freshwater resources, placing it at rank 71 out of 178 countries. This is below the average of 240.41 billion cubic meters.
Summary
In summary, Georgia has below-average values in key land-related indicators such as forest area, land area, arable land, and land under cereal production. The country also falls short in terms of average precipitation depth and renewable internal freshwater resources. These statistics are crucial as they highlight Georgia's limitations in land use, agriculture potential, water resources, and environmental sustainability compared to the global average, which could impact its economic development, food security, and ecological resilience.
Resource Rents
Total natural resources rents (% of GDP): The focus country, Georgia, has a value of 0.93, significantly below the average of 4.63. This places Georgia at rank 104 out of 175 countries in the dataset.
Coal rents (% of GDP): Georgia's value for this attribute is 0.003, well below the average of 0.40. Georgia ranks 53 out of 65 countries in this aspect.
Forest rents (% of GDP): Georgia's value stands at 0.08, considerably lower than the average of 1.53. This places Georgia at rank 119 out of 174 countries.
Oil rents (% of GDP): The focus country's value is 0.02, significantly below the average of 2.51. Georgia ranks 88 out of 117 countries in this attribute.
Natural gas rents (% of GDP): Georgia has a value of 0.0002 for this attribute, much lower than the average of 1.25. Georgia ranks 90 out of 96 countries.
Mineral rents (% of GDP): Georgia's value is 0.82, slightly above the average of 1.23. In this aspect, Georgia ranks 28 out of 86 countries.
Summary
Georgia's macroeconomic indicators show that the country has relatively low natural resources rents across various categories such as coal, oil, and natural gas compared to global averages. While Georgia ranks modestly in terms of mineral rents, its overall performance in leveraging natural resources for economic gain is below average. This suggests that Georgia may need to explore alternative sources of revenue or improve its resource management strategies to boost economic growth and competitiveness in the global market.
Commodities
Analysis of key agricultural production and consumption statistics in Georgia:
- Cereal production (metric tons): Georgia's cereal production of 412,325.81 metric tons is significantly below the average of 17,249,945.93 metric tons, ranking 123 out of 174 countries.
- Aquaculture production (metric tons): The country's aquaculture production of 2,026.9 metric tons is well below the average of 679,642.92 metric tons, ranking 114 out of 180 countries.
- Capture fisheries production (metric tons): Georgia's capture fisheries production of 207,150 metric tons is below the average of 467,453.06 metric tons, ranking 54 out of 190 countries.
- Total fisheries production (metric tons): The total fisheries production in Georgia stands at 209,176.9 metric tons, which is below the average of 1,153,914.85 metric tons, ranking 58 out of 182 countries.
- Fertilizer consumption (kilograms per hectare of arable land): Georgia's fertilizer consumption of 178.20 kilograms per hectare of arable land is slightly above the average of 159.04 kilograms, ranking 48 out of 187 countries.
Summary
In analyzing key agricultural production and consumption statistics in Georgia, it is evident that the country lags behind global averages in cereal, aquaculture, capture fisheries, and total fisheries production. However, Georgia's fertilizer consumption per hectare of arable land surpasses the global average, showing a commitment to enhancing agricultural productivity.
These statistics are crucial as they highlight areas of strength and weakness in Georgia's agricultural sector. By focusing on improving production outputs in cereals, aquaculture, and fisheries while maintaining efficient fertilizer consumption practices, Georgia can strive towards better food security, economic growth, and sustainability in its agricultural industry.
Intellectual Property
Georgia's industrial design applications by nonresidents are below average with a value of 457 compared to an average of 1415.83. The country ranks 44 out of 112 countries in this attribute.
In terms of patent applications by residents, Georgia's value of 145 is significantly below the attribute average of 9799.58. The country is ranked 64 out of 113 countries.
For patent applications by nonresidents, Georgia's 134 applications are also below the average of 6538.40 applications. The country ranks 65 out of 129.
Georgia's trademark applications by nonresidents stand at 7192, which is below the average of 15878.93. The country is ranked 53 out of 130.
However, in trademark applications by residents, Georgia's value of 2598 is significantly lower than the average of 111055.78 applications. The country ranks 80 out of 129.
The number of scientific and technical journal articles from Georgia, at 620.67, is notably beneath the average of 15103.76 articles. The country ranks 91 out of 192.
In terms of charges for the use of intellectual property (BoP, current US$), Georgia's payments are substantially below the average at 54890643.85 compared to 3218843494.39. The country is ranked 81 out of 143 countries.
Georgia's receipts for the use of intellectual property are also well below the average at 994714.92, compared to 3191687117.58. The country is ranked 90 out of 122.
Lastly, Georgia has 1812.39 researchers in R&D per million people, which is below the average of 2556.45. The country ranks 36 out of 72.
Summary
Georgia performs below average in various key macroeconomic indicators related to industrial design, patents, trademarks, scientific research, intellectual property charges and receipts, and researchers in R&D per million people. These statistics indicate a relatively weaker innovation ecosystem and lower levels of investment in research and development compared to the global averages, impacting the country's competitiveness and capacity for technological advancement.
Broad Economy Attributes
Analysis of key macroeconomic statistics for Georgia:
1. GDP (current US$): Georgia's GDP stands at $15.84 billion, significantly below the average GDP of $442.87 billion. Georgia is ranked 115th out of 189 countries in this regard.
2. GDP, PPP (current international $): With a GDP of $54.90 billion, Georgia falls below the average GDP of $734.14 billion. Georgia ranks 103rd out of 181 countries.
3. GDP per capita (current US$): Georgia's GDP per capita is $4255.74, lower than the average of $15462.11. The country is ranked 110th out of 190 countries.
4. GDP per capita, PPP (current international $): At $14748.63, Georgia's GDP per capita is below the average of $21251.89. The country ranks 81st out of 181 nations.
5. GNI (current US$): Georgia's GNI is $15.10 billion, well below the average of $452.04 billion. The country holds the 116th position out of 185 countries.
6. GNI, PPP (current international $): With a GNI of $52.35 billion, Georgia is below the average GNI of $730.70 billion. The country is ranked 104th out of 181 countries.
7. GNI per capita, PPP (current international $): Georgia's GNI per capita stands at $14060, lower than the average of $20615.75. The country ranks 85th out of 181 nations.
Summary
Georgia's key macroeconomic indicators such as GDP, GDP per capita, and GNI consistently fall below global averages, with the country ranking between 81st to 116th out of 181 to 190 countries. These statistics indicate that Georgia's economy is smaller and less developed compared to the global average, which may suggest challenges in terms of economic growth, development, and the standard of living for its citizens.
Broad Value Added
- Georgia's Gross value added at basic prices (GVA) is $13,871,629,224.68, ranking 113 out of 176 countries. This value is significantly below the average of $360,070,943,595.12 for this attribute.
- In terms of Agriculture, forestry, and fishing, value added (% of GDP), Georgia's value is 7.29%, which is lower than the average of 10.86%. Georgia ranks 94 out of 182 countries in this category.
- Georgia's Agriculture, forestry, and fishing value added in current US dollars is $1,154,738,045.47, ranking 124 out of 182 countries. The value is notably below the average of $19,924,732,828.07.
- Services value added (% of GDP) in Georgia is 59.09%, surpassing the average of 56.72%. Georgia ranks 74 out of 183 countries for this attribute.
- Georgia's Services value added in current US dollars is $9,361,746,792.30, which is considerably lower than the average of $295,837,711,130.69. Georgia holds the 115th rank out of 183 countries.
- In the category of Industry (including construction) value added in current US dollars, Georgia's value is $3,355,144,386.92, ranking 122 out of 183 countries. This value is notably below the average of $118,421,095,413.50.
Summary
Georgia ranks below average in Gross Value Added (GVA), Agriculture, forestry, and fishing value added, Agriculture, forestry, and fishing value added in current US dollars, and Industry value added in current US dollars. However, it excels in Services value added both in percentage of GDP and current US dollars. These findings are crucial as they highlight Georgia's strength in the services sector compared to agriculture and industry, indicating potential areas for growth and development.
Manufacturing Value Added
Georgia's Manufacturing, value added (current US$) stands at $1,480,569,540.47, significantly below the average of $76,207,179,589.66, ranking 114th out of 173 countries.
Manufacturing, value added (% of GDP) for Georgia is 9.35%, below the average of 11.90%. Georgia ranks 110th out of 173 countries in this attribute.
Georgia's Medium and high-tech manufacturing value added (% manufacturing value added) is 14.25%, lower than the average of 24.49%. It ranks 99th out of 149 countries.
In the Chemicals (% of value added in manufacturing) category, Georgia performs at 10.11%, slightly below the average of 11.56%. Georgia ranks 41st out of 89 countries.
Georgia's Food, beverages and tobacco (% of value added in manufacturing) are strong at 40.90%, notably above the average of 24.51%. Georgia ranks 13th out of 92 countries in this aspect.
The Machinery and transport equipment (% of value added in manufacturing) for Georgia is 3.14%, significantly lower than the average of 16.85%, ranking 80th out of 93 countries.
Georgia's Textiles and clothing (% of value added in manufacturing) is 3.89%, below the average of 6.33%. The country ranks 41st out of 93 countries in this attribute.
Finally, in the Other manufacturing (% of value added in manufacturing) sector, Georgia performs at 41.96%, similar to the average of 42.13%. The country ranks 47th out of 94 countries in this category.
Summary
Georgia's manufacturing sector faces challenges as it lags behind the global average in key areas such as high-tech manufacturing and machinery equipment. However, the country excels in food, beverages, and tobacco production, showcasing a competitive edge in this segment. These statistics are crucial as they highlight areas where Georgia may need to improve to enhance its manufacturing capabilities and compete effectively in the global market.
Money
Georgia's consumer price inflation rate is 5.20%, which is below the average of 8.26%. It ranks 35th out of 165 countries in the dataset.
The GDP deflator inflation in Georgia is 7.28%, slightly above the average of 6.90%. It holds the 25th rank out of 188 countries.
Georgia's broad money growth rate is 24.61%, higher than the average of 18.03%. It ranks 13th out of 139 countries.
With broad money accounting for 61.66% of GDP in Georgia, it is below the average of 71.75%. The country ranks 72nd out of 139 countries.
The broad money to total reserves ratio in Georgia is 2.50, lower than the average of 5.17. Georgia ranks 74th out of 126 countries in this metric.
Summary
Georgia's macroeconomic indicators reveal a mixed performance compared to global averages and rankings. While the consumer price inflation rate and GDP deflator inflation are relatively close to the averages, the broad money growth rate is significantly higher, indicating strong monetary expansion. However, the proportion of broad money to GDP and total reserves ratio in Georgia fall below the global averages, suggesting potential challenges in monetary policy management and reserve adequacy.
These indicators are crucial as they provide insights into Georgia's economic stability, inflationary pressures, monetary policy effectiveness, and financial resilience. Monitoring these metrics can help policymakers assess the country's economic health, make informed decisions regarding monetary policy adjustments, and strengthen financial stability and growth prospects in the long term.
Consumption Expenditure
Final consumption expenditure (current US$): In Georgia, the final consumption expenditure is $15,119,873,846.35, which is significantly below the average of $381,630,252,515.38. Georgia ranks 106 out of 159 countries in this attribute.
Final consumption expenditure (% of GDP): Georgia's final consumption expenditure as a percentage of GDP is 95.44%, higher than the average of 82.37%. Georgia ranks 26 out of 159 countries in this aspect.
General government final consumption expenditure (current US$): Georgia's general government final consumption expenditure stands at $2,330,926,166.51, well below the average of $93,676,578,238.03. Georgia ranks 111 out of 158 countries for this statistic.
General government final consumption expenditure (% of GDP): At 14.71%, Georgia's general government final consumption expenditure as a percentage of GDP is lower than the average of 18.71%. Georgia holds the 107th rank out of 158 countries in this category.
Household and NPISHs final consumption expenditure (current US$): Georgia's expenditure in this category is $12,788,947,679.84, significantly below the average of $290,127,571,157.69. Georgia ranks 104 out of 158 countries for this attribute.
Household and NPISHs final consumption expenditure (% of GDP): Georgia's expenditure in this category represents 80.72% of its GDP, higher than the average of 63.68%. Georgia ranks 23 out of 158 countries in this aspect.
Summary
Georgia's final consumption expenditure in both absolute terms and as a percentage of GDP is notably below the global average, with the country ranking lower in comparison to a significant number of nations. This indicates that Georgia may have lower levels of overall consumption and government spending relative to its GDP and compared to many other countries.
These statistics are crucial as they provide insights into Georgia's economic structure and the distribution of expenditure among households, government, and non-profit institutions. Understanding these figures can help policymakers assess the country's economic health, identify areas for potential growth or improvement, and make informed decisions to enhance overall economic stability and development.
Investment
Georgia's net Foreign Direct Investment (FDI) is -$572,396,734.08, which is above the average of -$1,615,235,980.51. Georgia ranks 94th out of 169 countries for this attribute.
For net FDI inflows, Georgia received $556,279,509.11, below the average of $5,749,271,080.15. Georgia ranks 89th out of 182 countries in this category.
Georgia's net FDI inflows as a percentage of GDP is 3.51%, higher than the average of 2.61%. The country ranks 53rd out of 178 countries for this indicator.
On the other hand, Georgia's net FDI outflows are -$16,117,224.97, significantly below the average of $5,707,991,116.07. Georgia ranks 126th out of 156 countries for this metric.
Similarly, Georgia's net FDI outflows as a percentage of GDP are -0.10%, much lower than the average of 1.00%. Georgia ranks 123rd out of 155 countries in this aspect.
Portfolio Investment for Georgia stands at -$74,626,152.39, well below the average of $679,559,169.57. Georgia's rank is 102nd out of 159 countries in this regard.
Georgia's portfolio investment in bonds is -$290,132,000, below the average of $4,134,263,915.25. The country ranks 49th out of 59 countries for this specific attribute.
For portfolio equity net inflows, Georgia received $1,058,268.97, significantly below the average of $9,197,145,994.70. Georgia's rank is 54th out of 125 countries for this particular aspect.
Summary
In summary, Georgia's net Foreign Direct Investment (FDI) metrics depict a mixed picture. While the country performs relatively well in terms of net FDI inflows as a percentage of GDP, it lags behind in absolute FDI figures and portfolio investments. These statistics are crucial as they indicate Georgia's attractiveness to foreign investors, its capital flows, and its integration into the global financial markets.
Debt
1. Total debt service (% of GNI): Georgia's total debt service is 16.12% of its GNI, which is notably higher than the average of 5.98%. This places Georgia at rank 9 out of 120 countries.
2. Public and publicly guaranteed debt service (% of GNI): Georgia's public and publicly guaranteed debt service is 6.18% of its GNI, higher than the average of 2.84%. Georgia ranks 8 out of 120 countries in this aspect.
3. External debt stocks (% of GNI): Georgia's external debt stock is 133.00% of its GNI, significantly surpassing the average of 65.42%. This puts Georgia at rank 9 out of 120 countries.
4. Debt service on external debt, total (TDS, current US$): Georgia's debt service on external debt is $2,434,678,664.80, which is lower than the average of $9,811,195,839.23. Georgia ranks 44 out of 123 countries.
5. Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$): Georgia's debt service on external debt is $933,779,207, below the average of $3,310,612,057.60. Georgia ranks 49 out of 123 countries.
6. External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$): Georgia's external debt stock is $7,967,307,409.30, lower than the average of $28,695,879,144.98. Georgia ranks 60 out of 123 countries.
7. External debt stocks, private nonguaranteed (PNG) (DOD, current US$): Georgia's private nonguaranteed external debt stock is $9,007,101,000, well below the average of $33,734,699,285.22. Georgia ranks 37 out of 91 countries.
8. External debt stocks, total (DOD, current US$): Georgia's total external debt stock is $20,088,955,014.60, considerably lower than the average of $73,845,530,111.82. Georgia ranks 51 out of 123 countries.
Summary
Georgia exhibits a higher-than-average total debt service, public and publicly guaranteed debt service, and external debt stock as a percentage of its Gross National Income (GNI). Despite this, the country has lower-than-average debt service figures in terms of current US dollars. These indicators are crucial as they highlight Georgia's financial obligations, its ability to meet debt payments, and its position relative to other countries in terms of debt sustainability and financial stability.
Broad Trade Attributes
Trade (% of GDP): Georgia's trade accounts for 93.88% of its GDP, which is 11.53% higher than the average trade percentage of 82.34%. Georgia ranks 42 out of 163 countries in this aspect.
Merchandise trade (% of GDP): Georgia's merchandise trade represents 71.89% of its GDP, exceeding the average by 11.88%. The country holds the 45th position out of 186 countries in this category.
Trade in services (% of GDP): With trade in services contributing 19.16% to its GDP, Georgia falls below the average by 5.46%. In this indicator, Georgia is ranked 68 out of 171 countries.
External balance on goods and services (current US$): Georgia has a deficit of -3056544714.92 USD in its external balance on goods and services, indicating a shortfall compared to the average of 3405509011.13 USD. The country is placed 126th out of 163 nations in this metric.
External balance on goods and services (% of GDP): Georgia's external balance accounts for -19.29% of its GDP, significantly lower than the average of -5.97%. Georgia is ranked 141 out of 163 countries regarding this ratio.
Summary
Georgia demonstrates a high dependency on international trade, with trade accounting for a significant portion of its GDP. However, the country faces challenges in achieving a positive balance in both merchandise and services trade, resulting in a considerable deficit. This highlights the importance of enhancing export diversification and competitiveness to improve Georgia's economic resilience and sustainability.
Net Trade
1. Current account balance (BoP, current US$): Georgia's current account balance is at -1983511862.88, significantly below the average of 1443864831.49. This places Georgia at rank 131 out of 170 countries in terms of current account balance.
2. Current account balance (% of GDP): Georgia's current account balance as a percentage of GDP is -12.52%, well below the average of -2.36%. Georgia ranks 151 out of 170 countries in this aspect.
3. Net trade in goods and services (BoP, current US$): Georgia's net trade in goods and services is at -3040800416.16, below the average of 2604730003.57. Georgia ranks 130 out of 171 countries in this category.
4. Net primary income (BoP, current US$): Georgia's net primary income is at -752363001.85, slightly below the average of -903807529.74. Georgia ranks 97 out of 170 countries in this attribute.
5. Net secondary income (BoP, current US$): Georgia's net secondary income is 1809651555.13, significantly higher than the average of -269227340.40. Georgia ranks 46 out of 170 countries in this metric.
6. Net trade in goods (BoP, current US$): Georgia's net trade in goods is at -3164995916.86, well below the average of 1302831005.68. Georgia ranks 131 out of 171 countries in this specific area.
7. Net capital account (BoP, current US$): Georgia's net capital account is 41052787.77, below the average of 136543824.05. Georgia ranks 85 out of 159 countries in this aspect.
8. Net financial account (BoP, current US$): Georgia's net financial account stands at -2038961769.64, significantly below the average of -469840994.63. Georgia ranks 132 out of 170 countries in this attribute.
Summary
Georgia's macroeconomic indicators suggest a concerning imbalance in its current account and financial accounts, with the country ranking poorly compared to the global average across various metrics. Particularly worrisome are the negative current account balance as a percentage of GDP and the significantly below-average net financial account. These indicators indicate a potential vulnerability in Georgia's economic stability and the need for strategic measures to address trade and financial deficits for sustainable growth and resilience against external shocks.
Broad Export Attributes
Based on the data provided, Georgia's Exports of goods, services and primary income amount to $6,888,452,521.63, which is significantly below the average of $146,238,908,936.30. Georgia ranks 104th out of 170 countries in this attribute.
Georgia's Exports of goods and services (BoP) total $5,926,626,714.82, also falling short of the average of $122,938,540,059.78. The country ranks 107th out of 170 countries in this aspect.
In terms of Goods exports (BoP), Georgia records $4,346,525,927.47, below the average of $93,310,581,697.39. Georgia's rank is 107th out of 171 countries in this category.
For Exports of goods and services (% of GDP), Georgia performs moderately at 37.29%, slightly below the average of 38.19%. The country is ranked 58th out of 163 nations for this statistic.
Georgia's International tourism receipts as a percentage of total exports are at 9.89%, slightly above the average of 9.74%. Georgia ranks 31st out of 120 countries in this metric.
ICT goods exports constitute only 0.36% of Georgia's total goods exports, well below the average of 3.81%. Georgia ranks 82nd out of 142 countries in this particular aspect.
Summary
Georgia's exports of goods, services, and primary income, as well as goods and services combined, are below global averages, leading to lower rankings in these categories among countries. However, Georgia's performance in terms of exports as a percentage of GDP is moderate, and it excels in international tourism receipts as a percentage of total exports. The low contribution of ICT goods exports to total goods exports indicates a potential area for growth and diversification in Georgia's export sector.
These indicators are important as they reflect Georgia's economic competitiveness and integration into the global market. By identifying areas of strength and weakness in export performance, policymakers can devise strategies to bolster economic growth, attract foreign investment, and enhance the country's overall trade dynamics for sustainable development.
Merchandise Exports
- Merchandise exports (current US$): Georgia's merchandise exports are significantly below the average of $89,542,711,229.95, ranking 120th out of 187 countries in the dataset.
- Agricultural raw materials exports (% of merchandise exports): Georgia's export percentage of agricultural raw materials is well below the average of 2.97%, placing it at the 107th rank out of 151 countries.
- Food exports (% of merchandise exports): Georgia's food export percentage is above the average of 24.06%, ranking 38th out of 152 countries.
- Fuel exports (% of merchandise exports): Georgia's fuel export percentage is significantly lower than the average of 13.70%, placing it at the 119th rank out of 147 countries.
- Ores and metals exports (% of merchandise exports): Georgia's export percentage of ores and metals is well above the average of 9.10%, ranking 11th out of 152 countries.
- Merchandise exports by the reporting economy, residual (% of total merchandise exports): Georgia's residual export percentage is far below the average of 3.20%, ranking 140th out of 166 countries.
Summary
Georgia's macroeconomic indicators reveal a mixed picture in terms of merchandise exports. While the country's overall merchandise exports are significantly below the global average, its food and ores/metal exports are performing relatively well, surpassing the respective global averages. However, Georgia's exports of agricultural raw materials, fuel, and residual products lag behind the average percentages. These statistics are crucial as they highlight Georgia's strengths and weaknesses in different export sectors, indicating areas where the country may need to focus on enhancing competitiveness and diversification to boost its overall export performance and economic growth.
Technology Exports
1. Manufactures exports (% of merchandise exports): Georgia's value of 25.86% is below the average of 42.62%. It ranks 90 out of 152 countries in this attribute data.
2. High-technology exports (current US$): Georgia's export value of $13,231,877 is significantly below the average of $16,655,934,078.80. Georgia ranks 108 out of 151 countries in this data set.
3. High-technology exports (% of manufactured exports): Georgia's value of 2.13% is below the average of 10.15%. The country ranks 117 out of 150 countries in this attribute data.
4. Medium and high-tech exports (% manufactured exports): Georgia's value of 21.02% is below the average of 34.29%. In this attribute, Georgia ranks 93 out of 149 countries.
Summary
Georgia's performance in key macroeconomic indicators related to exports is below average compared to other countries. The country lags behind in manufactures exports, high-technology exports, and their share in total manufactured exports. This suggests a potential need for investment in technology and manufacturing capabilities to improve competitiveness in the global market and boost economic growth.
Service Exports
Georgia's service exports amount to $1.58 billion. This is significantly below the average service exports of $28.92 billion, ranking Georgia 96th out of 171 countries in the dataset.
Georgia's ICT service exports total $113.85 million, well below the average of $4.58 billion. Georgia ranks 95th out of 166 countries in this category.
ICT service exports as a percentage of total service exports is 7.21% for Georgia, lower than the average of 11.75%. Georgia ranks 95th out of 166 countries in this metric.
Communications, computer, etc. make up 19.52% of Georgia's service exports, which is below the average of 45.85%. Georgia ranks 142nd out of 169 countries in this aspect.
Transport services contribute 44.17% to Georgia's service exports, much higher than the average of 21.80%. Georgia ranks 20th out of 169 countries in this category.
Travel services form 34.28% of Georgia's service exports, higher than the average of 26.40%. Georgia ranks 52nd out of 167 countries in this attribute.
Insurance and financial services constitute 2.02% of Georgia's service exports, below the average of 6.46%. Georgia ranks 112th out of 161 countries in this segment.
Summary
Georgia's service exports are below average across various categories such as ICT, communications, and financial services. However, the country stands out with high contributions from transport and travel services. These findings are important as they highlight Georgia's strengths and weaknesses in the global service export market, guiding policymakers in developing strategies to enhance competitiveness and diversify the economy.
Commercial Service Exports
Georgia's commercial service exports are $1,497,697,048.26, ranking 98th out of 171 countries with data available. This is significantly below the attribute average of $28,508,218,402.80.
Regarding travel services as a percentage of commercial service exports, Georgia's value of 36.17% surpasses the average of 27.89%. Georgia ranks 48th out of 167 countries in this aspect.
For computer, communications, and other services as a percentage of commercial service exports, Georgia's value of 15.10% is notably lower than the average of 42.44%. This places Georgia at the 143rd position out of 169 countries.
Georgia's insurance and financial services as a percentage of commercial service exports stand at 2.13%, well below the average of 6.97%. In this category, Georgia holds the 115th rank out of 161 countries.
Transport services as a percentage of commercial service exports constitute 46.61% for Georgia, exceeding the average of 23.37%. This places Georgia at the 22nd rank out of 169 countries.
Summary
Georgia's commercial service exports are significantly below the global average, but the country excels in travel services and transport services as a percentage of its total exports. However, Georgia lags behind in computer, communications, and other services, as well as insurance and financial services, compared to the average values among countries analyzed. These indicators are crucial as they reflect Georgia's strengths and weaknesses in different service sectors, highlighting areas for potential growth and improvement to enhance the country's economic development and competitiveness on the global stage.
Broad Import Attributes
Imports of goods and services (current US$): Georgia's value is $8,964,607,357.62, which is significantly below the average of $126,191,355,599.06. Georgia is ranked 97 out of 163 countries in this attribute data.
Imports of goods and services (% of GDP): Georgia's value is 56.58%, above the average of 44.15%. Georgia is ranked 36 out of 163 countries in this attribute data.
International tourism, expenditures (% of total imports): Georgia's value is 3.26%, below the average of 3.98%. Georgia is ranked 60 out of 131 countries in this attribute data.
ICT goods imports (% total goods imports): Georgia's value is 4.06%, below the average of 6.85%. Georgia is ranked 96 out of 143 countries in this attribute data.
Goods imports (BoP, current US$): Georgia's value is $7,511,521,844.33, which is significantly below the average of $92,007,788,027.17. Georgia is ranked 98 out of 171 countries in this attribute data.
Imports of goods and services (BoP, current US$): Georgia's value is $8,967,427,130.98, which is significantly below the average of $120,321,577,988.12. Georgia is ranked 100 out of 170 countries in this attribute data.
Imports of goods, services and primary income (BoP, current US$): Georgia's value is $10,681,615,939.64, which is significantly below the average of $144,514,428,722.28. Georgia is ranked 99 out of 170 countries in this attribute data.
Summary
Georgia's import values across various indicators are consistently below global averages, indicating a relatively lower level of trade activity compared to other countries. This could suggest potential challenges in terms of diversifying the economy, accessing a wide range of goods and services, and participating fully in the global market. Addressing these low import levels could be crucial for enhancing economic growth, competitiveness, and resilience in the face of economic shocks.
Merchandise Imports
Georgia's merchandise imports of $8,049,000,000 are significantly below the average of $89,385,605,263. The country ranks 100th out of 190 countries in this attribute.
Manufactures imports account for 63.85% of Georgia's merchandise imports, slightly below the average of 66.76%. Georgia ranks 100th out of 152 countries in this category.
Georgia's agricultural raw materials imports as a percentage of merchandise imports stand at 0.80%, lower than the average of 1.27%. The country ranks 110th out of 152 countries.
Food imports constitute 14.39% of Georgia's merchandise imports, slightly below the average of 15.89%. Georgia ranks 78th out of 152 countries in this aspect.
Fuel imports represent 11.87% of Georgia's merchandise imports, higher than the average of 11.38%. The country ranks 64th out of 152 countries in fuel imports.
Georgia's ores and metals imports make up 8.50% of merchandise imports, significantly higher than the average of 2.57%. Georgia ranks 6th out of 152 countries in this category.
Merchandise imports by the reporting economy, residual, account for only 0.005% of Georgia's total merchandise imports, much lower than the average of 2.51%. The country ranks 157th out of 180 countries in this specific attribute.
Summary
Georgia's merchandise imports are significantly below the global average, ranking 100th out of 190 countries. The country has a diverse import profile, with higher-than-average imports of ores and metals, while imports of agricultural raw materials are relatively low. Understanding these import dynamics is crucial for assessing Georgia's trade relationships, economic stability, and industrial development strategy.
Service Imports
Service imports (BoP, current US$): Georgia's service imports amount to $1,455,905,286.65, which is significantly below the average of $27,615,356,170.47 for 171 countries, placing Georgia at rank 108 out of the total countries included in the data.
Communications, computer, etc. (% of service imports, BoP): Georgia's percentage of service imports allocated to communications, computer, etc. is 23.47%, lower than the average of 44.40% for 169 countries, ranking Georgia at 143 out of the total countries analyzed.
Transport services (% of service imports, BoP): Georgia allocates 55.62% of its service imports to transport services, significantly higher than the average of 32.90% for 169 countries, placing Georgia at rank 16 among the included countries.
Travel services (% of service imports, BoP): Georgia dedicates 12.40% of its service imports to travel services, slightly below the average of 14.14% for 169 countries, positioning Georgia at rank 75 out of the total countries analyzed.
Insurance and financial services (% of service imports, BoP): Georgia allocates 8.51% of its service imports to insurance and financial services, marginally below the average of 8.53% for 169 countries, ranking Georgia at 64 among the included countries.
Summary
Georgia's key macroeconomic indicators in service imports highlight a unique profile compared to the global average. While its total service imports are notably lower than the average, the country's allocation towards transport services is significantly higher. This indicates a potential strength in the transport sector, which could be a strategic advantage for Georgia's economy in terms of infrastructure development, logistics, and trade facilitation.
Commercial Service Imports
- Georgia's commercial service imports amount to $1,401,485,237.1, ranking 107 out of 171 countries. This
value is significantly below the average of $27,102,746,128.60 for this attribute.
- Computer, communications, and other services account for 20.50% of Georgia's commercial service imports.
This places Georgia at rank 138 out of 169 countries, with a value notably lower than the average of
41.71%.
- Georgia's insurance and financial services as a percentage of commercial service imports stand at 8.84%.
This places Georgia at rank 64 out of 169 countries, slightly below the average of 8.85%.
- Georgia's transport services represent 57.78% of its commercial service imports, placing the country at
rank 20 out of 169 countries, significantly higher than the average of 34.71%.
- Travel services account for 12.88% of Georgia's commercial service imports, positioning the country at
rank 75 out of 169 countries. Georgia's value is slightly below the average of 14.73%.
Summary
Georgia's commercial service imports are relatively low compared to the global average, with a notable focus on transport services at 57.78% and a lesser emphasis on computer, communications, and other services at 20.50%. While the country's insurance and financial services as a percentage of commercial service imports are slightly below the average, its travel services also fall slightly short of the global average.
These findings are important as they provide insights into Georgia's economic structure and trade dynamics. The country's heavy reliance on transport services suggests a strategic focus on logistics and transportation, possibly indicating a strong presence in regional trade networks. However, the lower emphasis on computer and communication services highlights potential areas for growth and diversification in the service sector to align with global trends.
Infrastructure
1. Railways, passengers carried (million passenger-km): Georgia carries 246.938 million passenger-km, below the average of 32281.917 million. Georgia ranks 50 out of 64 countries in this attribute.
2. Railways, goods transported (million ton-km): Georgia transports 2925 million ton-km, below the average of 119231.191 million. Georgia ranks 41 out of 62 countries in this attribute.
3. Air transport, freight (million ton-km): Georgia transports 0.135 million ton-km, significantly below the average of 1384.365 million. Georgia ranks 115 out of 126 countries in this attribute.
4. Air transport, registered carrier departures worldwide: Georgia has 774 departures, below the average of 134365.605. Georgia ranks 137 out of 149 countries in this attribute.
5. Air transport, passengers carried: Georgia carries 72906 passengers, far below the average of 11848242.7 passengers. Georgia ranks 126 out of 149 countries in this attribute.
6. Container port traffic (TEU: 20 foot equivalent units): Georgia handles 553302 TEUs, below the average of 6907110.268 TEUs. Georgia ranks 80 out of 110 countries in this attribute.
7. Rail lines (total route-km): Georgia has 1411 total route-km, significantly below the average of 12204.736 km. Georgia ranks 51 out of 66 countries in this attribute.
Summary
In analyzing key macroeconomic indicators for Georgia, it is evident that the country falls below global averages in various transportation metrics such as railways passengers carried, goods transported, air transport for both freight and passengers, container port traffic, and total rail lines. These indicators are crucial as they highlight Georgia's relatively lower connectivity and trade volumes compared to other countries, which could impact its competitiveness, economic growth, and ability to attract investments and tourists.
Information Technology Infrastructure
Georgia has 13,020 secure internet servers, which is below the average of 458,294. Georgia ranks 67th out of 193 countries in this attribute.
With 3497.45 secure internet servers per 1 million people, Georgia falls below the average of 14,067.17. The country is ranked 60th out of 193.
72.53% of individuals in Georgia use the internet, higher than the average of 64.77%. Georgia ranks 90th out of 180 countries in this aspect.
Georgia has 968,355 fixed broadband subscriptions, below the average of 6,591,956.35. The country's rank is 73rd out of 185.
For mobile cellular subscriptions, Georgia has 5,100,101, which is below the average of 42,526,463.87. The country holds the 121st position out of 193 countries.
Summary
Georgia's performance in key macroeconomic indicators related to internet infrastructure and connectivity falls below global averages, positioning the country in the lower percentiles compared to other nations. This can have significant implications for Georgia's economic development and competitiveness, as access to secure internet servers, broadband subscriptions, and mobile cellular subscriptions are crucial for fostering innovation, digitalization, and overall economic growth in the modern global economy.
Energy Consumption
Georgia's renewable energy consumption accounts for 23.45% of its total final energy consumption, which is below the average of 32.18%. The country is ranked 97th out of 191 countries in this category.
Regarding CO2 emissions, Georgia emits 10,255 kt, significantly below the average of 171,895.94 kt. With a rank of 99 out of 188 countries, Georgia performs well in emissions control relative to its peers.
Summary
Georgia's renewable energy consumption is below the global average, at 23.45% of total final energy consumption, and it ranks 97th out of 191 countries in this aspect. However, the country excels in emissions control with CO2 emissions of only 10,255 kt, well below the global average of 171,895.94 kt, ranking 99th out of 188 countries.
These findings are crucial as they highlight Georgia's sustainability efforts and environmental impact. While the country has room to increase its renewable energy consumption, its efficient CO2 emissions control showcases a proactive approach towards environmental preservation and climate change mitigation, positioning Georgia favorably on the global stage in terms of environmental responsibility.
Government Balance Sheet
The Net acquisition of financial assets in Georgia is 4.43% of GDP, which is above the average of 2.45%. Georgia ranks 16 out of 87 countries in this attribute.
Georgia's Central government debt is 65.88% of GDP, below the average of 74.12%. In this aspect, Georgia ranks 32 out of 61 countries.
When it comes to Net incurrence of liabilities, Georgia stands at 12.79% of GDP, surpassing the average of 7.43%. It holds the 11th position out of 92 countries.
Georgia's Total reserves as a percentage of total external debt is 19.48%, significantly lower than the average of 66.13%. This places Georgia at 81 out of 102 countries for this metric.
The Reserves and related items in Georgia are valued at -195,306,253.89 USD, ranking at 119 out of 171 countries with an average of 1,924,407,186.58 USD.
Georgia's Total reserves minus gold amount to 3,913,274,194.81 USD, displaying a significant difference from the average of 74,221,588,171.61 USD. Georgia ranks 95 out of 161 countries in this attribute.
Georgia's Total reserves, including gold, stand at 3,913,274,194.81 USD, showcasing a deviation from the average of 85,708,019,773.47 USD. Georgia ranks at 99 out of 161 countries for this metric.
Lastly, Georgia's Total reserves in months of imports are 4.40, which is below the average of 7.10. Georgia holds the 98th position out of 151 countries in this category.
Summary
Georgia displays a mixed performance in key macroeconomic indicators compared to global averages and other countries. While the country excels in areas like the net acquisition of financial assets and net incurrence of liabilities, it lags behind in metrics such as total reserves as a percentage of total external debt and total reserves in months of imports. These statistics are essential as they provide insights into Georgia's financial stability, fiscal health, and ability to meet external obligations, highlighting areas that may require attention for long-term economic sustainability and resilience.
Government Revenue
1. Revenue, excluding grants (% of GDP): Georgia's value is 24.86% of GDP, which is below the average of 27.02%. Georgia is ranked 62 out of 122 countries in this attribute.
2. Grants and other revenue (% of revenue): Georgia's value is 16.72% of revenue, lower than the average of 23.54%. The country is ranked 58 out of 108 countries in this attribute.
3. Taxes on goods and services (% of revenue): Georgia's value stands at 48.59% of revenue, significantly higher than the average of 31.82%. Georgia ranks 7 out of 122 countries in this category.
4. Taxes on international trade (% of revenue): Georgia's value is 0.59% of revenue, well below the average of 6.24%. The country is ranked 88 out of 101 countries in this attribute.
5. Other taxes (% of revenue): Georgia's value is 0.57% of revenue, also lower than the average of 2.12%. The country ranks 68 out of 106 countries in this attribute.
6. Taxes on income, profits and capital gains (% of revenue): Georgia's value is 33.53% of revenue, higher than the average of 24.66%. Georgia is ranked 25 out of 119 countries in this aspect.
Summary
Georgia's macroeconomic indicators reflect a mixed picture compared to global averages and rankings. While the country performs well in terms of taxes on goods and services, ranking 7th out of 122 countries, it lags behind in revenue from grants and other sources. The low revenue from taxes on international trade and other taxes indicates potential areas for improvement in revenue generation strategies.
These indicators are crucial as they provide insights into Georgia's fiscal sustainability, economic structure, and reliance on different revenue sources. Understanding these metrics can help policymakers identify areas of strength and weakness, guiding them in formulating effective economic policies to enhance the country's financial stability and overall economic performance.
Taxes
- Tax revenue (% of GDP): Georgia's tax revenue as a percentage of its GDP is 21.41%, which is above the
attribute average of 16.72%. It ranks 31st out of 123 countries in the dataset.
- Customs and other import duties (% of tax revenue): Georgia's value for this attribute is 0.71%,
significantly below the average of 9.01%. This places Georgia at a rank of 89 out of 99 countries.
- Taxes on income, profits and capital gains (% of total taxes): Georgia's ratio stands at 40.26%,
slightly higher than the average of 38.40%. The country is ranked 53rd out of 120 countries.
- Tariff rate, applied, weighted mean, all products (%): Georgia's tariff rate is 0.21%, well below the
average of 5.21%. This places Georgia at a rank of 151 out of 153 countries.
Summary
Georgia demonstrates robust tax revenue collection with a percentage of GDP exceeding the global average, positioning it favorably in international rankings. However, the country's reliance on customs and import duties is notably low compared to the average, which could impact revenue diversity and economic resilience. Despite a higher proportion of taxes on income, profits, and capital gains relative to total taxes, Georgia maintains competitiveness with a relatively low applied tariff rate, fostering a business-friendly environment and promoting trade.
Government Expenses
1. Expense (% of GDP): Georgia's expense as a percentage of GDP is 29.32%, which is below the attribute average of 31.69%. This places Georgia at rank 68 out of 123 countries.
2. Compensation of employees (% of expense): In Georgia, the percentage of expense allocated to employee compensation is 13.48%, well below the attribute average of 24.70%. Georgia ranks 96 out of 123 countries for this metric.
3. Goods and services expense (% of expense): Georgia spends 13.32% of its expenses on goods and services, slightly below the attribute average of 14.77%. The country is ranked 56 out of 122 countries.
4. Interest payments (% of expense): Georgia allocates 5.31% of its expenses to interest payments, which is lower than the attribute average of 6.85%. This places Georgia at rank 59 out of 121 countries.
5. Other expense (% of expense): Georgia dedicates 11.50% of its expenses to other miscellaneous expenses, higher than the attribute average of 8.29%. The country ranks 29 out of 120 countries in this category.
6. Subsidies and other transfers (% of expense): Georgia spends 56.38% of its expenses on subsidies and transfers, significantly above the attribute average of 43.29%. This places Georgia at rank 30 out of 121 countries.
Summary
Georgia's macroeconomic indicators reveal a prudent fiscal management strategy, with expense as a percentage of GDP below the global average and disciplined allocation towards employee compensation and goods/services. The country's prioritization of subsidies and transfers, albeit above the average, indicates a focus on social welfare and economic development. Maintaining a balance between these expenses ensures sustainable economic growth and social stability in Georgia.
Top Stats
Ranks in Top Decile For:
| Attribute | Rank/Total |
|---|---|
| Death rate, crude (per 1,000 people) | 13/192 |
| Broad money growth (annual %) | 13/139 |
| Total debt service (% of GNI) | 9/120 |
| Public and publicly guaranteed debt service (% of GNI) | 8/120 |
| External debt stocks (% of GNI) | 9/120 |
| Ores and metals exports (% of merchandise exports) | 11/152 |
| Ores and metals imports (% of merchandise imports) | 6/152 |
| Transport services (% of service imports, BoP) | 16/169 |
| Taxes on goods and services (% of revenue) | 7/122 |
Ranks in Bottom Decile For:
| Attribute | Rank/Total |
|---|---|
| Natural gas rents (% of GDP) | 90/96 |
| Air transport, freight (million ton-km) | 115/126 |
| Air transport, registered carrier departures worldwide | 137/149 |
| Tariff rate, applied, weighted mean, all products (%) | 151/153 |