Georgia leader in South Caucasus with its GDP per capita indicator

  • Georgia, Azerbaijan and Kazakhstan signed a memorandum of Trans-Caspian International Transport Route (TITR) Association. Photo by N. Alavidze/Agenda.ge.
Agenda.ge, 16 Oct 2017 - 16:01, Tbilisi,Georgia

Georgia takes the leading place among the South Caucasian countries with its Gross Domestic Product (GDP) per capita indicator.

Georgia’s GDP per capita in 2017 (current prices) is $4.12 thousand, the highest in the South Caucasus, shows the updated data by the International Monetary Fund (IMF).

To compare, Azerbaijan’s GDP per capita is $4.1 thousand and Armenia’s – $3.69 thousand.

The IMF also forecast next year’s GDP per capita, where the data show that Georgia’s indicator will reach $4.53 thousand, Azerbaijan’s - $4.44 thousand and Armenia’s – $3.85 thousand.

Georgia is a leader country in terms of GDP growth rate as well.

The IMF moved its forecast up saying the Georgian economy will grow by 4.3 percent in 2017 (Armenia by 3.5 percent and Azerbaijan by one percent).

In 2018 the GDP growth rate will be 4.2 percent in Georgia, 2.9 percent in Armenia and 1.3 percent in Azerbaijan, said the IMF.

As for GDP based on purchasing power parity (PPP), Georgia’s indicator is $10.64 thousand, taking second place after Azerbaijan (PPP $17.43 thousand). Armenia’s GPD based on PPP is $9.1 thousand.

GDP is the most commonly used single measure of a country's overall economic activity. It represents the total value at current prices of final goods and services produced within a country during a specified time period divided by the average population for the same one year.

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