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Economy of Georgia vs Kuwait compared: GDP & Debt

Updated on by Georank team

Georgia has a GDP of $34.2B compared to $160B for Kuwait, ranking 107/197 and 59/197 by economy size, respectively.

Georgia has $12.3B in government debt (36.1% of GDP), compared to $4.68B (2.92% of GDP) in Kuwait.

Georgia vs Kuwait GDP by year

Georgia
Kuwait
1x
Year GDP, current $
Georgia Kuwait
2024 $34,189,423,545 $160,227,273,053
2023 $30,777,833,601 $165,384,407,116
2022 $24,984,568,960 $183,502,046,694
2021 $18,853,115,589 $148,350,671,489
2020 $16,010,869,216 $111,045,470,606
2019 $17,638,337,117 $140,856,394,861
2018 $17,902,544,881 $138,646,316,351
2017 $16,473,125,375 $120,687,539,806
2016 $15,444,548,902 $109,406,674,125
2015 $15,223,796,149 $114,585,555,689
2014 $17,966,015,109 $162,650,450,685
2013 $17,517,660,144 $174,168,116,535
2012 $16,894,392,033 $174,047,662,680
2011 $15,475,290,469 $154,039,231,246
2010 $12,426,907,967 $115,416,245,242
2009 $10,766,920,066 $105,968,691,905
2008 $12,795,145,131 $147,379,737,230
2007 $10,172,931,089 $114,634,043,362
2006 $7,745,250,734 $101,557,330,723
2005 $6,410,912,050 $80,798,630,137
2004 $5,125,365,192 $59,439,090,601
2003 $3,991,377,904 $47,874,582,232
2002 $3,395,766,678 $38,135,788,414
2001 $3,219,462,262 $34,889,559,870
2000 $3,057,475,335 $37,718,743,480
1999 $2,800,025,883 $30,122,365,849
1998 $3,613,497,317 $25,943,705,784
1997 $3,510,520,231 $30,350,190,704
1996 $3,094,936,177 $31,492,373,309
1995 $2,693,732,612 $27,186,980,647
1994 $2,513,867,645 $24,848,483,838
1993 $2,701,181,331 $23,941,391,391
1992 $3,690,328,964 $19,858,555,215
1991 $6,324,503,311 $11,009,993,703
1990 $7,735,927,264 $18,427,777,778
1989 $8,902,632,715 $24,313,855,653
1988 $8,833,588,173 $20,690,322,153
1987 $7,321,981,334 $22,368,704,134
1986 - $17,903,989,745
1985 - $21,445,970,614
1984 - $21,700,082,753
1983 - $20,871,081,080
1982 - $21,577,153,356
1981 - $25,058,020,338
1980 - $28,638,868,356
1979 - $24,749,063,922
1978 - $15,503,557,496
1977 - $14,137,406,741
1976 - $13,132,252,802
1975 - $12,022,811,621
1974 - $13,006,948,296
1973 - $5,408,804,607
1972 - $4,450,537,925
1971 - $3,880,392,195
1970 - $2,873,638,851
1969 - $2,769,198,892
1968 - $2,662,798,935
1967 - $2,441,599,023
1966 - $2,391,199,044
1965 - $2,097,199,161
1964 - $2,071,668,533
1963 - $1,900,895,857
1962 - $1,828,107,503

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

GDP per capita in Georgia vs Kuwait by year

Georgia
GDP per capita

GDP per capita, PPP
Kuwait
GDP per capita

GDP per capita, PPP
1x
Year Current $
Georgia Kuwait
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $9,241 $28,285 $32,718 $52,444
2023 $8,284 $25,072 $34,076 $53,025
2022 $6,730 $22,461 $39,982 $55,043
2021 $5,084 $18,916 $34,019 $50,652
2020 $4,301 $16,791 $25,236 $41,462
2019 $4,741 $16,770 $31,708 $50,703
2018 $4,804 $15,022 $32,068 $51,371
2017 $4,419 $13,719 $29,048 $46,566
2016 $4,143 $13,065 $27,324 $41,862
2015 $4,087 $12,270 $29,882 $45,267
2014 $4,830 $11,771 $44,369 $68,337
2013 $4,712 $10,797 $49,651 $76,813
2012 $4,531 $10,060 $52,155 $82,090
2011 $4,120 $8,564 $49,170 $79,037
2010 $3,282 $7,712 $39,212 $75,184
2009 $2,823 $7,119 $37,907 $80,110
2008 $3,325 $7,279 $55,585 $90,337
2007 $2,635 $6,951 $45,709 $91,435
2006 $1,996 $5,980 $42,947 $89,075
2005 $1,643 $5,272 $36,123 $84,968
2004 $1,305 $4,635 $27,552 $77,227
2003 $1,010 $4,240 $22,691 $69,752
2002 $854 $3,719 $18,513 $59,713
2001 $802 $3,441 $17,374 $58,553
2000 $750 $3,161 $19,296 $58,703
1999 $674 $2,977 $15,854 $56,406
1998 $852 $2,795 $14,067 $58,344
1997 $807 $2,616 $16,977 $57,420
1996 $689 $2,253 $18,201 $56,913
1995 $578 $1,919 $16,168 $57,163
1994 $520 $1,764 $14,930 $53,946
1993 $550 $1,898 $14,318 $48,482
1992 $757 $2,643 $12,146 $36,149
1991 $1,308 $4,727 $8,147 $23,390
1990 $1,611 $5,836 $10,938 $30,763
1989 $1,853 - $10,965 -
1988 $1,844 - $9,692 -
1987 $1,544 - $10,896 -
1986 - - $9,077 -
1985 - - $11,322 -
1984 - - $11,919 -
1983 - - $11,965 -
1982 - - $12,979 -
1981 - - $15,825 -
1980 - - $19,032 -
1979 - - $17,386 -
1978 - - $11,567 -
1977 - - $11,238 -
1976 - - $11,141 -
1975 - - $10,882 -
1974 - - $12,527 -
1973 - - $5,532 -
1972 - - $4,836 -
1971 - - $4,486 -
1970 - - $3,552 -
1969 - - $3,695 -
1968 - - $3,872 -
1967 - - $3,887 -
1966 - - $4,176 -
1965 - - $4,024 -
1964 - - $4,379 -
1963 - - $4,445 -
1962 - - $4,748 -

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

Georgia's GDP per capita is $9,241, ranking 89/197, compared to $32,718 in Kuwait, ranking 37/197. Adjusted for purchasing power (GDP per capita PPP), Georgia ranks 74th at $28,285, while Kuwait ranks 40th at $52,444.

Economic indicators

Georgia Kuwait
Gross domestic product
$34.2B
2024
$160B
2024
GDP rank
107/197
2024
59/197
2024
GDP growth
9.68%
2023-2024
-2.56%
2023-2024
GDP per capita
$9,241
2024
$32,718
2024
GDP per capita rank
89/197
2024
37/197
2024
GDP per capita, PPP
$28,285
2024
$52,444
2024
GDP per capita PPP rank
74/197
2024
40/197
2024
Government debt
$12.3B
2024
$4.68B
2024
Debt-to-GDP ratio
36.1%
2024
2.92%
2024
Government debt per person
$3,336
2024
$956
2024
Government debt per person rank
96/185
2024
143/185
2024
Average annual personal income after taxes
$6,891
2026
$23,828
2026
Market capitalization of domestic companies n/a
$141B
2024
Number of billionaires
2
2025
n/a
Income share by richest 10%
26.2%
2024
n/a
Income share by poorest 10%
2.9%
2024
n/a
Government expenditure, % of GDP
30.3%
2024
50.4%
2024
Consumer prices inflation
1.11%
2023-2024
2.9%
2023-2024
Central bank interest rate
8%
2024
3.5%
2025
Unemployment rate
8.01%
2024
2.16%
2016
Population
3697615
5100145

Spending and national debt comparison by year

Georgia
Spending

Debt
Kuwait
Spending

Debt
1x
Year % of GDP
Georgia Kuwait
Government spending Government debt Government spending Government debt
2024 30.3% 36.1% 50.4% 2.92%
2023 29.7% 38.9% 48.3% 3.13%
2022 28.5% 39.2% 39.6% 2.95%
2021 31.2% 49.1% 48.3% 7.2%
2020 34.1% 59.6% 62.9% 10.2%
2019 28.7% 40% 50.3% 10.5%
2018 26.7% 38.2% 51.1% 14.3%
2017 27.2% 38.9% 51.9% 19.6%
2016 27.8% 39.5% 54.1% 9.88%
2015 27% 36% 55.4% 4.6%
2014 27.5% 30.3% 45% 3.43%
2013 26.6% 28.9% 38.4% 3.09%
2012 27.7% 28.1% 38.2% 3.6%
2011 27.1% 27.7% 39.7% 4.64%
2010 31% 31.4% 45.5% 6.16%
2009 34.8% 33.6% 42.9% 6.65%
2008 31.8% 26.3% 40.9% 5.38%
2007 27.7% 22.5% 30.4% 7.05%
2006 22.7% 28.3% 32.3% 7.79%
2005 21.6% 35.3% 28.8% 10.2%
2004 18.9% 44.3% 35.3% 13.9%
2003 16.1% 54.6% 38.2% 17.2%
2002 16% 50.3% 42.8% 21.3%
2001 16.8% 53% 41.4% 23%
2000 16.9% 58.5% 29.9% 21.4%
1999 19.8% 76.5% 44.5% 25.5%
1998 18.9% 80% 51.7% 25.6%
1997 21.9% 48.2% 43.8% 24.3%
1996 18.4% 38.9% 42.8% 26.5%
1995 15.6% 19.8% 52% 34.9%
1994 - - 57.8% 37.7%
1993 - - 58.2% 28.8%
1992 - - 77.6% 27.9%
1991 - - 208.9% 45.3%
1990 - - 122.9% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1995–1999, retrieved 2026-02-20).

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

In 2024, Georgia's government spending was $10.3B, accounting for 30.3% of its GDP, while Kuwait spent $80.8B, or 50.4% of GDP.

Debt-to-GDP ratio is 36.1% in Georgia and 2.92% in Kuwait, ranking 144/185 and 184/185, respectively.

Government deficit by year

Deficit/surplus
Georgia

Kuwait
1x
Year Deficit/surplus, % of GDP
Georgia Kuwait
2024 -2.3% 23.8%
2023 -2.33% 28.2%
2022 -2.2% 30%
2021 -5.97% 9.98%
2020 -9.16% 0.14%
2019 -1.82% 13%
2018 -0.8% 17.5%
2017 -0.45% 15.3%
2016 -1.49% 13.1%
2015 -1.16% 16.6%
2014 -1.78% 30%
2013 -1.25% 40.6%
2012 -0.71% 40.7%
2011 -0.81% 38.8%
2010 -4.48% 31.9%
2009 -6.36% 31.3%
2008 -1.92% 21.3%
2007 0.81% 37.1%
2006 3.28% 28%
2005 2.14% 38.9%
2004 3.59% 32.5%
2003 -0.55% 27.2%
2002 -0.19% 31%
2001 -0.71% 45.2%
2000 -1.92% 52.5%
1999 -4.72% 28.2%
1998 -4% 19.5%
1997 -6.79% 29.5%
1996 -5.91% 24.3%
1995 -4.89% 11.7%
1994 - 1.76%
1993 - -3.12%
1992 - -28.1%
1991 - -145%
1990 - -50%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2024, Georgia's government deficit, the difference between spending and revenue, was $785M, equivalent to 2.3% of GDP. This compares to Kuwait's surplus of $38.1B, or 23.8% of GDP.

Over the past 30 years, Georgia recorded a fiscal deficit in 26 of those years, while Kuwait ran a deficit in 0 years. On average, Georgia posted an annual deficit equal to 2.16% of GDP, compared to surplus of 26.9% of GDP for Kuwait.

Inflation comparison by year

Inflation
Georgia

Kuwait
1x
Year Consumer prices inflation
Georgia Kuwait
2024 1.11% 2.9%
2023 2.49% 3.64%
2022 11.9% 3.98%
2021 9.57% 3.42%
2020 5.2% 2.1%
2019 4.85% 1.09%
2018 2.62% 0.54%
2017 6.04% 2.17%
2016 2.13% 3.2%
2015 4% 3.27%
2014 3.07% 2.91%
2013 -0.51% 2.68%
2012 -0.94% 3.26%
2011 8.54% 4.84%
2010 7.11% 4.5%
2009 1.73% 4.61%
2008 10% 10.6%
2007 9.24% 5.48%
2006 9.16% 3.06%
2005 8.25% 4.14%
2004 5.66% 1.25%
2003 0.84% 0.96%
2002 5.59% 0.89%
2001 4.65% 1.3%
2000 4.06% 1.81%
1999 19.2% 2.99%
1998 3.57% 0.13%
1997 7.09% 0.68%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Georgia has recorded an average annual inflation rate of 5.58%, compared with 2.94% in Kuwait. In 2024, inflation was 1.11% in Georgia and 2.9% in Kuwait.

Top exports between countries

Georgia
Export category Export value
Transport & tourism services $24.5M
Animal & marine products $3.18M
Chemicals & pharma $1.84M
Processed food, beverages & tobacco $199K
Machinery & equipment $83K
Textiles & consumer goods $49K
Raw agricultural goods $46K
Wood & paper products $30K
Miscellaneous $3K
Metals $2K
Kuwait
Export category Export value
Machinery & equipment $121K
Textiles & consumer goods $81K
Wood & paper products $50K
Chemicals & pharma $23K
Miscellaneous $22K

Balance of trade

Georgia Kuwait
Current account balance
-$1.79B
2024
$46.7B
2024
Current account balance ranking
139/190
2024
15/190
2024
Current account balance, % of GDP
-5.22%
2024
+29.1%
2024
Goods imports
$15.2B
2024
$33.4B
2024
Goods exports
$8.63B
2024
$77.5B
2024
Service imports
$3.81B
2024
$28.1B
2024
Service exports
$7.71B
2024
$12.2B
2024
Imports of goods and services, % of GDP
55.6%
2024
38.3%
2023
Exports of goods and services, % of GDP
47.8%
2024
57.7%
2023

Economic freedom indices

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

Georgia Kuwait
Economic freedom 69.6 59.9
Economic freedom ranking 41/197 100/197
Property rights 53 42
Government integrity 59.9 47.9
Judicial effectiveness 53.8 43.4
Tax burden 87.8 97.7
Government spending 73.9 36.2
Fiscal health 89.1 99.9
Business freedom 76.6 57.4
Labor freedom 64 49.2
Monetary freedom 70.2 68.7
Trade freedom 86.8 75.8
Investment freedom 60 50
Financial freedom 60 50

Economic freedom comparison by year

Georgia
Kuwait
1x
Year Economic freedom index
Georgia Kuwait
2026 69.6 59.9
2025 69 59.9
2024 68.4 58.5
2023 68.7 56.7
2022 71.8 58.3
2021 77.2 64.1
2020 77.1 63.2
2019 75.9 60.8
2018 76.2 62.2
2017 76 65.1
2016 72.6 62.7
2015 73 62.5
2014 72.6 62.3
2013 72.2 63.1
2012 69.4 62.5
2011 70.4 64.9
2010 70.4 67.7
2009 69.8 65.6
2008 69.2 68.1
2007 69.3 66.4
2006 64.5 66.5
2005 57.1 64.6
2004 58.9 63.6
2003 58.6 66.7
2002 56.7 65.4
2001 58.3 68.2
2000 54.3 69.7
1999 52.5 69.5
1998 47.9 66.3
1997 46.5 64.8
1996 44.1 66.1

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Georgia is 69.6, ranking 41/197, compared to 59.9 for Kuwait, ranking 100/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Georgia Kuwait
Services, % of GDP
62%
2024
55.9%
2024
Industry, % of GDP
19.6%
2024
57.1%
2024
Agriculture, forestry, and fishing, % of GDP
5.49%
2024
0.49%
2024
GNI, Atlas method
$30B
2024
$200B
2024
GNI per capita, PPP
$26,200
2024
$63,270
2024
Total reserves including gold
$4.45B
2024
$50.7B
2024
Total reserves ranking
104/177
2024
41/177
2024
Net foreign direct investment
-$1.14B
2024
$9.71B
2024
Net inflows of foreign direct investment
$1.6B
2024
$615M
2024
Net outflows of foreign direct investment
$462M
2024
$10.3B
2024
Servicing debt to the IMF, % of GNI
15.2%
2024
n/a
Poverty at national poverty lines
9.4%
2024
n/a
Gross capital formation, % of GDP
24.5%
2024
17.7%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2020–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1995–1999, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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.