Armenia vs Georgia: Economic Indicators Comparison

Georgia with a GDP of $17.6B ranked the 119th largest economy in the world, while Armenia ranked 136th with $12.4B. By GDP 5-years average growth and GDP per capita, Georgia and Armenia ranked 54th vs 56th and 111th vs 115th, respectively.

Gross Domestic Product & Income

StatArmeniaGeorgia
GDP$12.4B$17.6B
GDP growth, 1 year5%4.7%
GDP growth, 5-years average3.9%4%
Population2.9M3.7M
GDP per capita$4.2k$4.7k
GDP per capita growth4.95%4.72%
Purchasing Power Parity conversion factor196.691
Price level ratio of PPP conversion factor GDP to market exchange rate0.410.39
GDP per capita, PPP adjusted$10k$11k
GNI, Atlas method$12.5B$16.6B
GNI per capita$4.2k$4.4k
GNI, PPP adjusted$30.9B$42.9B
GNI per capita, PPP adjusted$10k$12k

Financial system and Human development

StatArmeniaGeorgia
Income Tax Rate26%20%
Corporate Tax Rate20%15%
Inflation, consumer prices2.5%2.6%
Inflation, GDP deflator2.6%4.4%
Unemployment17.7%14.1%
Economic Freedom Index70.677.1
Personal Freedom Index7.217.4
Human Freedom Index7.427.48
Property Rights Index60.768.6
Judical Effectiveness Index54.157.9
Business Freedom Index8185.3
Fiscal Health Index68.894.4
Labor Freedom Index72.576.3
Investment Freedom Index7580
Financial Freedom Index7070
Trade Freedom Index80.688.6
Monetary Freedom Index7678.3
Government Spending Index80.673.6
Tax Burden Index84.987.1
Government Integrity Index43.464.8
Corruption Perceptions Index3558
Life expectancy at birth, years74.873.4
Suicide mortality rate, per 100,000 people6.68.2
Mortality caused by road traffic injury, per 100,000 people17.115.3
Intentional homicides, per 100,000 people2.41
International tourism, number of arrivals1.7M4.8M

Government debt & reserves

StatArmeniaGeorgia
Central government debt, % of GDP48.5%44.5%
External debt stocks, % of GNI87.5%110.6%
External debt stocks$11B$17.1B
Short-term debt, % of total reserves50.2%81.1%
Total debt service, % of exports and primary income29.9%23.7%
Adjusted net savings including particulate emission damage, % of GNI1.5%12.5%
Gross savings, % of GDP13.6%21%
Gross capital formation, % of GDP22.4%28.1%
Total reserves including gold$2.3B$3.3B
Foreign direct investment net inflows$254.1M$1.2B

Exports, imports and economic structure

StatArmeniaGeorgia
Exports of goods and services, % of GDP37.8%50.6%
Imports of goods and services, % of GDP53.5%61.2%
Current account balance (balance of payments)-$1.2B-$1.2B
Revenue excluding grants, % of GDP22.5%23%
Grants excluding technical cooperation, BoP$111.9M$314.1M
Personal remittances received$1.5B$2B
Industry including construction value added, % of GDP25%19.9%
Agriculture, forestry and fishing value added, % of GDP13.7%6.8%
Charges for the use of intellectual property, payments BoPN/A$27.1M
Charges for the use of intellectual property, receipts BoPN/A$270k
Expense, % of GDP22.1%21.4%
Government Expenditure, % of GDP25.4%29.6%

Compare with countries close by GDP per capita

Armenia vs

CountryGDP
per capita
Population
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.42M
Indonesia
$3.9k
264M
Marshall Islands
$3.8k
53.1k
Tuvalu
$3.7k
11.2k
Cape Verde
$3.6k
546k
Bolivia
$3.5k
11.1M
Tunisia
$3.4k
11.6M
Angola
$3.4k
29.8M
Bhutan
$3.2k
808k
Morocco
$3.2k
36M
Moldova
$3.2k
2.55M

Georgia vs

CountryGDP
per capita
Population
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.42M
Indonesia
$3.9k
264M
Marshall Islands
$3.8k
53.1k
Tuvalu
$3.7k
11.2k
Cape Verde
$3.6k
546k
Bolivia
$3.5k
11.1M
Tunisia
$3.4k
11.6M