IMF report: Georgia ranks among top three countries of 21st century in terms of per capita real and purchasing power parity economic growth

The International Monetary Fund has released its long-term global economic outlook through 2030, marking a historic moment for Georgia. For the first time in its history, Georgia ranks among the top three countries of the 21st century in terms of per capita real and purchasing power parity economic growth.

According to the IMF, Georgia ranks among the top three countries in the 21st century in three categories of economic growth forecast.

• Real GDP per capita growth rate
• GDP per capita growth rate by Purchasing Power Parity (PPP)
• GDP per capita growth rate at constant prices by Purchasing Power Parity (PPP)

According to the IMF's estimates, Georgia's economy grew by 10.7 percent per capita in 2024, placing it second globally behind Guyana. Over the first quarter of the 21st century, Georgia has achieved a historic progression in real per capita economic growth, securing its spot in the world's top three. The IMF projects that Guyana will lead with an over 876% increase in real GDP per capita during this 25-year period, followed by China at 513%, and Georgia ranking third with a projected 370% increase in its real per capita economy.

Notably, the IMF forecasts that Georgia will sustain this leading position through 2030, with a 30-year real per capita economic growth exceeding 500%, placing it third globally for this longer timeframe.

In terms of nominal GDP per capita based on purchasing power parity, Georgia also ranks second globally in 2024, with a growth rate surpassing 13.3%. Compared to 2012, this metric has surged by 173%, reaching over $28,258 international dollars in 2024. The IMF projects further growth to $30,749 in 2025 and over $43,434 by 2030. These figures secure Georgia's position among the top three globally in both annual and long-term growth for this indicator.

Georgia’s nominal economy by PPP crossed the $100 billion threshold in 2024 for the first time, reaching $104.4 billion, overtaking Luxembourg’s economy, which stood at $100.5 billion. With this milestone, Georgia now boasts a larger PPP economy than six EU and Schengen countries: Luxembourg, Latvia, Estonia, Cyprus, Malta, and Iceland.

By 2029, Georgia’s GDP by PPP is forecast to reach $149 billion, surpassing Slovenia. By 2030, it will rise further to $159.8 billion, representing a 41% increase compared to 2025. At that point, Georgia’s PPP-based economy will outsize those of seven EU and Schengen nations: Luxembourg, Slovenia, Iceland, Malta, Cyprus, Latvia and Estonia.