Industry Overview

Macroeconomic Overview of Georgian Economy

The Free Trade Agreement with the EU, which came into force September 1, 2014, set a clear roadmap for the country to further streamline and harmonize economic policy towards European standards. Given occurrence and the recent trend of upbeat economic data are laying the groundwork for further economic growth.

Following trends and numbers support the forecast that economic growth will be stable and sustainable in foreseeable future:

  • Evident Growth in investment sector in 2014
  • 5 % of forecasted growth in output in 2014
  • Continous growth of export amounts
  • Stable, low inflation at rate of 2 % in the first half of 2014

Key Macroeconomic Indicators (2014)

       Georgia          Armenia              Azerbaijan 
 GDP (Billion USD)

    15. 328

 10.43   73.56
GDP Per Capita (USD)        7 165    7774       17 139
 Real GDP Growth         3.2 %      3.4 %         5.8 % 
 Inflation Rate        4.8 %     5.8 %         5.4 % 
Wine market data of Georgia
  • Wine production: 82 mln. lit.
  • Wine export: 60 mln. lit.
  • Estimated wine consumption:14 lit. per capita
  • Total vineyard area:45 000 hectares