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Economy of Georgia vs Ghana compared: GDP & Debt

Updated on by Georank

Georgia has a GDP of $38.1B compared to $114B for Ghana, ranking 106/197 and 69/197 by economy size, respectively.

Georgia has $13.1B in government debt (34.3% of GDP), compared to $55.8B (48.8% of GDP) in Ghana.

Georgia vs Ghana GDP by year

Georgia
Ghana
1x
Year GDP, current $
Georgia Ghana
2025 $38,143,612,855 $114,209,905,279
2024 $34,189,423,333 $83,288,585,604
2023 $30,777,833,601 $80,547,146,876
2022 $24,984,568,960 $73,919,003,212
2021 $18,853,115,589 $79,514,204,730
2020 $16,010,869,216 $70,008,243,860
2019 $17,638,337,117 $68,352,629,246
2018 $17,902,544,881 $67,259,353,966
2017 $16,473,125,375 $60,385,409,435
2016 $15,444,548,902 $56,144,179,398
2015 $15,223,796,149 $49,436,806,230
2014 $17,966,015,109 $54,678,533,806
2013 $17,517,660,144 $62,845,721,960
2012 $16,894,392,033 $41,271,701,061
2011 $15,475,290,469 $39,336,668,081
2010 $12,426,907,967 $32,197,655,567
2009 $10,766,920,066 $26,048,720,006
2008 $12,795,145,131 $28,679,383,241
2007 $10,172,931,089 $24,827,339,138
2006 $7,745,250,734 $20,885,037,597
2005 $6,410,912,050 $10,744,568,381
2004 $5,125,365,192 $8,881,417,907
2003 $3,991,377,904 $7,632,723,556
2002 $3,395,766,678 $6,166,197,848
2001 $3,219,462,262 $5,314,872,854
2000 $3,057,475,335 $4,982,850,662
1999 $2,800,025,883 $7,718,109,982
1998 $3,613,497,317 $7,482,069,162
1997 $3,510,520,231 $6,891,443,192
1996 $3,094,936,177 $6,932,991,739
1995 $2,693,732,612 $6,464,382,808
1994 $2,513,867,645 $5,446,383,727
1993 $2,701,181,331 $5,968,922,939
1992 $3,690,328,964 $6,416,103,926
1991 $6,324,503,311 $6,603,185,268
1990 $7,735,927,264 $5,889,106,573
1989 $8,902,632,715 $5,251,858,440
1988 $8,833,588,173 $5,197,765,032
1987 $7,321,981,334 $5,074,829,932
1986 - $5,735,677,434
1985 - $4,504,306,723
1984 - $4,412,279,843
1983 - $4,057,275,132
1982 - $4,035,994,398
1981 - $4,222,441,860
1980 - $4,445,228,216
1979 - $4,020,227,920
1978 - $3,662,478,185
1977 - $3,189,428,571
1976 - $2,765,254,237
1975 - $2,810,106,383
1974 - $2,894,409,938
1973 - $3,006,766,758
1972 - $2,112,293,280
1971 - $2,417,108,578
1970 - $2,215,028,588
1969 - $1,962,050,556
1968 - $1,666,909,518
1967 - $1,747,187,645
1966 - $2,126,300,672
1965 - $2,053,462,968
1964 - $1,731,296,200
1963 - $1,540,797,589
1962 - $1,382,515,654
1961 - $1,302,674,325
1960 - $1,217,230,095

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/georgia/ghana | CC BY

GDP per capita in Georgia vs Ghana by year

Georgia
GDP per capita

GDP per capita, PPP
Ghana
GDP per capita

GDP per capita, PPP
1x
Year Current $
Georgia Ghana
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $9,692 - $3,257 -
2024 $8,968 $28,285 $2,419 $8,020
2023 $8,284 $25,072 $2,384 $7,556
2022 $6,730 $22,461 $2,230 $7,208
2021 $5,084 $18,916 $2,445 $6,608
2020 $4,301 $16,791 $2,195 $6,047
2019 $4,741 $16,770 $2,187 $6,003
2018 $4,804 $15,022 $2,195 $5,536
2017 $4,419 $13,719 $2,012 $5,171
2016 $4,143 $13,065 $1,912 $5,011
2015 $4,087 $12,270 $1,723 $5,191
2014 $4,830 $11,771 $1,950 $5,517
2013 $4,712 $10,797 $2,295 $5,215
2012 $4,531 $10,060 $1,544 $4,934
2011 $4,120 $8,564 $1,507 $4,381
2010 $3,282 $7,712 $1,264 $3,855
2009 $2,823 $7,119 $1,048 $3,617
2008 $3,325 $7,279 $1,183 $3,516
2007 $2,635 $6,951 $1,050 $3,241
2006 $1,996 $5,980 $906 $3,103
2005 $1,643 $5,272 $479 $2,904
2004 $1,305 $4,635 $406 $2,729
2003 $1,010 $4,240 $358 $2,584
2002 $854 $3,719 $297.5 $2,475
2001 $802 $3,441 $263.5 $2,397
2000 $750 $3,161 $253.7 $2,315
1999 $674 $2,977 $403 $2,239
1998 $852 $2,795 $400 $2,167
1997 $807 $2,616 $378 $2,097
1996 $689 $2,253 $389 $2,026
1995 $578 $1,919 $372 $1,947
1994 $520 $1,764 $321 $1,875
1993 $550 $1,898 $360 $1,821
1992 $757 $2,643 $396 $1,739
1991 $1,308 $4,727 $418 $1,678
1990 $1,611 $5,836 $383 $1,581
1989 $1,853 - $350 -
1988 $1,844 - $355 -
1987 $1,544 - $355 -
1986 - - $411 -
1985 - - $330 -
1984 - - $330 -
1983 - - $311 -
1982 - - $319 -
1981 - - $344 -
1980 - - $372 -
1979 - - $347 -
1978 - - $326 -
1977 - - $292.3 -
1976 - - $261 -
1975 - - $273 -
1974 - - $289.4 -
1973 - - $310 -
1972 - - $223.8 -
1971 - - $263.4 -
1970 - - $248.2 -
1969 - - $225.8 -
1968 - - $196.7 -
1967 - - $211.2 -
1966 - - $263.3 -
1965 - - $260.5 -
1964 - - $225 -
1963 - - $205 -
1962 - - $188.4 -
1961 - - $181.9 -
1960 - - $174.9 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/georgia/ghana | CC BY

Georgia's GDP per capita is $9,692, ranking 89/197, compared to $3,257 in Ghana, ranking 139/197. Adjusted for purchasing power (GDP per capita PPP), Georgia ranks 74th at $28,285, while Ghana ranks 140th at $8,020.

Economic indicators

Georgia Ghana
Gross domestic product
$38.1B
2025
$114B
2025
GDP rank
106/197
2025
69/197
2025
GDP growth
7.46%
2024-2025
5.95%
2024-2025
GDP per capita
$9,692
2025
$3,257
2025
GDP per capita rank
89/197
2025
139/197
2025
GDP per capita, PPP
$28,285
2024
$8,020
2024
GDP per capita PPP rank
74/197
2024
140/197
2024
Government debt
$13.1B
2025
$55.8B
2025
Debt-to-GDP ratio
34.3%
2025
48.8%
2025
Government debt per person
$3,323
2025
$1,590
2025
Government debt per person rank
99/185
2025
128/185
2025
Average annual personal income after taxes
$7,158
2026
$2,135
2026
Market capitalization of domestic companies n/a
$16.4B
2025
Number of billionaires
2
2026
n/a
Income share by richest 10%
26.2%
2024
32.2%
2016
Income share by poorest 10%
2.9%
2024
1.6%
2016
Government expenditure, % of GDP
28.4%
2025
17%
2025
Consumer prices inflation
3.87%
2024-2025
14.2%
2024-2025
Central bank interest rate
8.25%
2026
14%
2026
Unemployment rate
8.01%
2024
3.97%
2024
Population
3934050
36032857

Spending and national debt comparison by year

Georgia
Spending

Debt
Ghana
Spending

Debt
1x
Year % of GDP
Georgia Ghana
Government spending Government debt Government spending Government debt
2025 28.4% 34.3% 17% 48.8%
2024 29.9% 35.7% 22% 70.3%
2023 29.7% 38.9% 18.5% 79.1%
2022 28.5% 39.2% 27.5% 92.7%
2021 31.2% 49.1% 27.2% 86.9%
2020 34.1% 59.6% 31.5% 79.1%
2019 28.7% 40% 22.5% 62.9%
2018 26.7% 38.2% 20.9% 62%
2017 27.2% 38.9% 17.6% 57%
2016 27.8% 39.5% 19.9% 55.9%
2015 27% 36% 18.6% 53.9%
2014 27.5% 30.3% 21% 50.1%
2013 26.6% 28.9% 21.6% 42.9%
2012 27.7% 28.1% 22.1% 35.5%
2011 27.1% 27.7% 19.5% 31.2%
2010 31% 31.4% 19% 32.9%
2009 34.8% 33.6% 16.6% 25.4%
2008 31.8% 26.3% 16.6% 23.2%
2007 27.7% 22.5% 16.8% 21.1%
2006 22.7% 28.3% 14.4% 17.3%
2005 21.6% 35.3% 12.9% 31.7%
2004 18.9% 44.3% 13.7% 38.4%
2003 16.1% 54.6% 12.1% 49.3%
2002 16% 50.3% 10.7% 54.1%
2001 16.8% 53% 13.8% 57.8%
2000 16.9% 58.5% 12% 74.5%
1999 19.7% 76.5% 11.1% 51.7%
1998 18.7% 80% 11.8% 37.6%
1997 21.4% 48.2% 12% 45.2%
1996 18.4% 38.9% 12.4% 42.9%
1995 15.7% 19.8% 13% 47.6%
1994 - - 12.7% 50.6%
1993 - - 12.1% 34.1%
1992 - - 9.2% 21.3%
1991 - - 7.09% 17.3%
1990 - - 6.59% 17.8%
1989 - - 7.24% 23%
1988 - - 7.23% 23.5%
1987 - - 7.32% 26.8%
1986 - - 7.29% 18.2%
1985 - - 6.08% 14.4%
1984 - - 4.64% 13%
1983 - - 3.49% 9.21%
1982 - - 4.73% 8.51%
1981 - - 5.74% 8.77%
1980 - - 7.51% 9.75%
1979 - - 9.14% 11.5%
1978 - - 6.54% 11.4%
1977 - - 10.5% 20.7%
1976 - - 12.8% 26%
1975 - - 13.2% 21.8%
1974 - - 9.52% 21.8%
1973 - - 9.35% 25.4%
1972 - - 11.4% 29.8%
1971 - - 11.7% 29.5%
1970 - - 12.2% 31.9%
1969 - - 11.2% 31.4%
1968 - - 12.3% 34.5%
1967 - - 11.5% 33.9%
1966 - - 9.12% 29.8%
1965 - - 14.2% 30.2%
1964 - - 15.8% 30.8%
1963 - - 15.3% 30.5%
1962 - - 12.5% 11.8%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-07-08).

GeoRank.org/economy/georgia/ghana | CC BY

In 2025, Georgia's government spending was $10.8B, accounting for 28.4% of its GDP, while Ghana spent $19.4B, or 17% of GDP.

Debt-to-GDP ratio is 34.3% in Georgia and 48.8% in Ghana, ranking 147/185 and 108/185, respectively.

Government deficit by year

Deficit/surplus
Georgia

Ghana
1x
Year Deficit/surplus, % of GDP
Georgia Ghana
2025 -1.46% -1.35%
2024 -2.27% -6.23%
2023 -2.33% -3.37%
2022 -2.2% -11.8%
2021 -5.97% -12%
2020 -9.16% -17.4%
2019 -1.82% -7.52%
2018 -0.8% -6.79%
2017 -0.45% -3.97%
2016 -1.49% -6.75%
2015 -1.16% -4.01%
2014 -1.78% -7.81%
2013 -1.25% -9.12%
2012 -0.71% -8.36%
2011 -0.81% -5.47%
2010 -4.48% -7.13%
2009 -6.36% -5.05%
2008 -1.92% -5.56%
2007 0.81% -4.91%
2006 3.28% -3.11%
2005 2.14% -1.87%
2004 3.59% -2.02%
2003 -0.55% -1.99%
2002 -0.19% -2.73%
2001 -0.71% -3.64%
2000 -1.92% -3.98%
1999 -4.7% -5.64%
1998 -3.96% -5.27%
1997 -6.63% -6.14%
1996 -5.91% -5.61%
1995 -4.89% -4.52%
1994 - -4.99%
1993 - -5.39%
1992 - -4.5%
1991 - -1.47%
1990 - -1.93%
1989 - -0.81%
1988 - -1.08%
1987 - -0.92%
1986 - -1.26%
1985 - -1.19%
1984 - -0.98%
1983 - -1.13%
1982 - -2.03%
1981 - -3.8%
1980 - -4.73%
1979 - -3.61%
1978 - -1.21%
1977 - -4.68%
1976 - -5.53%
1975 - -4.05%
1974 - -2.06%
1973 - -2.64%
1972 - -2.19%
1971 - 0.13%
1970 - -2.35%
1969 - -2.67%
1968 - -2.34%
1967 - -2.32%
1966 - -1.29%
1965 - -3.29%
1964 - -3.72%
1963 - -5.66%
1962 - -5.04%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-07-08).

GeoRank.org/economy/georgia/ghana | CC BY

In 2025, Georgia's government deficit, the difference between spending and revenue, was $555M, equivalent to 1.46% of GDP. This compares to Ghana's deficit of $1.54B, or 1.35% of GDP.

Over the past 31 years, Georgia recorded a fiscal deficit in 27 of those years, while Ghana ran a deficit in 31 years. On average, Georgia posted an annual deficit equal to 2.13% of GDP, compared to deficit of 5.84% of GDP for Ghana.

Inflation comparison by year

Inflation
Georgia

Ghana
1x
Year Consumer prices inflation
Georgia Ghana
2025 3.87% 14.2%
2024 1.11% 22.8%
2023 2.49% 38.1%
2022 11.9% 31.3%
2021 9.57% 9.97%
2020 5.2% 9.89%
2019 4.85% 7.14%
2018 2.62% 7.81%
2017 6.04% 12.4%
2016 2.13% 17.5%
2015 4% 17.1%
2014 3.07% 15.5%
2013 -0.51% 11.7%
2012 -0.94% 11.2%
2011 8.54% 8.73%
2010 7.11% 10.7%
2009 1.73% 19.2%
2008 10% 16.5%
2007 9.24% 10.7%
2006 9.16% 11.7%
2005 8.25% 15.4%
2004 5.66% 18%
2003 0.84% 29.8%
2002 5.59% 9.36%
2001 4.65% 41.5%
2000 4.06% 40.2%
1999 19.2% 4.87%
1998 3.57% 14.6%
1997 7.09% 27.9%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/georgia/ghana | CC BY

Over the past 29 years, Georgia has recorded an average annual inflation rate of 5.52%, compared with 17.4% in Ghana. In 2025, inflation was 3.87% in Georgia and 14.2% in Ghana.

Top exports between countries

Georgia
Export category Export value
Raw materials & minerals $6.16M
Processed food, beverages & tobacco $207K
Transport & tourism services $184K
Machinery & equipment $71K
Chemicals & pharma $49K
Textiles & consumer goods $5K
Metals $1K
Miscellaneous $1K
Precious metals & jewellery $1K
Ghana
Export category Export value
Processed food, beverages & tobacco $336K
Animal & marine products $205K
Wood & paper products $90K
Machinery & equipment $27K
Chemicals & pharma $5K
Raw materials & minerals $3K

Balance of trade

Georgia Ghana
Current account balance
-$1.01B
2025
$9.39B
2025
Current account balance ranking
116/190
2025
25/190
2025
Current account balance, % of GDP
-2.65%
2025
+8.22%
2025
Goods imports
$16.5B
2025
$17.5B
2025
Goods exports
$9.63B
2025
$31.2B
2025
Service imports
$3.85B
2025
$14.6B
2025
Service exports
$8.49B
2025
$10.1B
2025
Imports of goods and services, % of GDP
53.2%
2025
33.9%
2024
Exports of goods and services, % of GDP
47.4%
2025
35.1%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Georgia Ghana
Economic freedom 69.6 57.3
Economic freedom ranking 41/197 118/197
Property rights 53 50.2
Government integrity 59.9 45.4
Judicial effectiveness 53.8 57.5
Tax burden 87.8 79.4
Government spending 73.9 84
Fiscal health 89.1 10.1
Business freedom 76.6 64.5
Labor freedom 64 54.9
Monetary freedom 70.2 56.7
Trade freedom 86.8 65.2
Investment freedom 60 60
Financial freedom 60 60

Economic freedom comparison by year

Georgia
Ghana
1x
Year Economic freedom index
Georgia Ghana
2026 69.6 57.3
2025 69 56
2024 68.4 55.8
2023 68.7 58
2022 71.8 59.8
2021 77.2 59.2
2020 77.1 59.4
2019 75.9 57.5
2018 76.2 56
2017 76 56.2
2016 72.6 63
2015 73 63
2014 72.6 64.2
2013 72.2 61.3
2012 69.4 60.7
2011 70.4 59.4
2010 70.4 60.2
2009 69.8 58.1
2008 69.2 57
2007 69.3 57.6
2006 64.5 55.6
2005 57.1 56.5
2004 58.9 59.1
2003 58.6 58.2
2002 56.7 57.2
2001 58.3 58
2000 54.3 58.1
1999 52.5 57.9
1998 47.9 57
1997 46.5 56.7
1996 44.1 57.7
1995 - 55.6

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/georgia/ghana | CC BY

The Economic Freedom Index for Georgia is 69.6, ranking 41/197, compared to 57.3 for Ghana, ranking 118/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Georgia Ghana
Services, % of GDP
63.9%
2025
42.9%
2025
Industry, % of GDP
18.6%
2025
29.3%
2025
Agriculture, forestry, and fishing, % of GDP
5.18%
2025
21.3%
2025
GNI, Atlas method
$35.4B
2025
$92.3B
2025
GNI per capita, PPP
$27,570
2025
$8,080
2025
Total reserves including gold
$6.16B
2025
$4.47B
2024
Total reserves ranking
94/177
2025
108/177
2024
Net foreign direct investment
-$1.39B
2025
-$1.87B
2025
Net inflows of foreign direct investment
$1.6B
2024
$1.77B
2024
Net outflows of foreign direct investment
$462M
2024
$5.37M
2024
Servicing debt to the IMF, % of GNI
15.2%
2024
3.5%
2024
Poverty at national poverty lines
9.4%
2024
23.4%
2016
Gross capital formation, % of GDP
21.3%
2025
9.9%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/georgia/ghana | CC BY

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2020–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.