Georgian economy in regional and world context
By Messenger Staff
Wednesday, February 29In 2012, Georgia’s share in the world economy will be 1/2500 of global GDP. It is estimated that by the end of the year, Georgian GDP will be more than $15 billion USD.
However, analysts suggest that the economies of Armenia and Azerbaijan are developing more dynamically. Azeri GDP per capita is more than two times higher than that of Georgia. In 2003, Armenia lagged behind Georgia’s economic development by 5%; today that gap is merely 2%.
Expected investments into the country have not appeared, with the government struggling to reach $1 billion USD in foreign direct investment year after year.
For the past 10 years, the Georgian economy has increased by 6% annually. If this growth is maintained, Georgia will need another 30 years to reach the current average global GDP.