Georgia Economy
Georgia Guide
Georgia Economy
Economy of Georgia
The total gross domestic product of Georgia in the year of 2007 was $396 billion. It’s per person individual earnings for the year 2007. This positions it on rank 37th in the country at the amount of $33,499. If Georgia was a separate nation, it would be the 28th biggest country on the planet in terms of financial economy.
15 Fortune 500 companies and 26 Fortune 1000 companies have their head office in Georgia, counting the companies with the likes of Home Depot, UPS, Coca Cola, Delta Air Lines, AFLAC, Southern Company, and SunTrust Banks. Georgia is the home of 1,700 plus globally centered services on behalf of 43 nations occupying more than 112,000 Georgians with an anticipated capital assets of $22.7 billion.
| Economy of Georgia | |
|---|---|
| Georgia Currency | 1 Georgian lari (GEL) = 100 tetri |
| Georgia Fiscal Year | 1 January - 31 December |
| Trade organisations | WTO, GUAM and others |
| Georgia Statistics | |
| Georgia GDP | $20.75 billion (2009 est.) |
| Georgia GDP Growth | -4.9% (2009 est.) 7.9% (2004-2008 average) |
| Georgia GDP Per Capita | $4,500 (2009 est.) (PPP) (149th) |
| Georgia GDP by Sector | agriculture: 12.1%; industry: 25.9%; services: 62% (2009 est.) |
| Georgia Inflation (CPI) | 3% (2009 est.) |
| Georgia Population below poverty line |
31% (2006) |
| Georgia Gini Index | 40.8 (2005) |
| Georgia Labour Force | 1.991 million (2009 est.) |
| Georgia Labour Force by Occupation |
agriculture: 55.6%; industry: 8.9%; services: 35.5% (2006 est.) |
| Georgia Unemployment | 16.9% (2009 est.) |
| Georgia Main Industries | steel, aircraft, machine tools, electrical appliances, mining (manganese and copper), chemicals, wood products, wine |
| Georgia External | |
| Georgia Exports | $1.134 billion (2009 est.) |
| Georgia Export Goods | scrap metal, wine, mineral water, ores, vehicles, fruits and nuts |
| Georgia Main Export Partners | Turkey 19.9%, Azerbaijan 14.6%, Canada 10.3%, Armenia 7.8%, Ukraine 7.3%, Bulgaria 7.2% (2009) |
| Georgia Imports | $4.378 billion (2009 est.) |
| Georgia Import Goods | fuels, vehicles, machinery and parts, grain and other foods, pharmaceuticals |
| Georgia Main Import Partners | Turkey 17.9%, Ukraine 9.5%, Azerbaijan 8.6%, Germany 6.8%, Russia 6.6%, US 5.1% (2009) |
| Georgia FDI Stock | $759 million (2009 est.) |
| Georgia Gross External Debt | $7.711 billion (31 December 2008) |
| Georgia Public Finances | |
| Georgia Public Debt | 34.4% of GDP (2009) |
| Georgia Revenues | $4.917 billion (2009 est.) |
| Georgia Expenses | $5.726 billion (2009 est.) |
| Georgia Economic Aid | ODA $309.8 million (2005 est.) |
| Georgia Foreign Reserves | $1.08 billion (31 December 2009 est.) |
Georgia Agriculture and Industry Economy
The farming products of the Georgia are fowl and eggs, pecans, peaches, peanuts, rye, cattle, hogs, milk products, turf grass, tobacco, fruits and vegetables. Among its manufacturing products are textiles and clothes, transport parts and tools, cigarettes, processing of foodstuffs, paper and paper related products, chemicals and related goods, and electric gears. Sightseeing and tourism also share a significant involvement in the terms of money to the financial system. Elberton is very famous for its Granite around the World. Atlanta has always been the place of massive increase in the sector of real estate, in the service sector, and in the telecommunications sectors.
Atlanta has a very big impact on the economy of the state of Georgia and the South eastern United States. The metropolis is an always increasing augmentation to the sectors of telecommunications, manufacturing, transport and shipping, tourism and sightseeing, and administration.
In addition, food and food processing is also a most important sector in Georgia, with extensive lands yielding peanuts, corns, and soybeans all along the central and south Georgia. The state is the numero uno in the terms of pecans productions in the world, with the areas in the region of Albany in south west Georgia being the hub of the pecan production of Georgia. Gainesville in north east Georgia is supposed to be the hub of poultry and related products of the world.
Even though the commerce and service industries provide the greater part of the jobs in Georgia, manufacturing and agriculture sector continue to be the significant to the economy of the state. Manufacturing sector across Georgia is fairly assorted. Chief yields in the stone and wood industry take in a diversity of pines, clays, stones, and sands. The terracotta palygorskite, recognized by the name of attapulgite, was called so due to its great quantity in close proximity to the Decatur County city of Attapulgus in the extreme south west corner of the state. Attapulgite has plentiful health, beauty, and manufacturing utilizations. Fabric and textile sector is situated around the towns of Rome, Columbus, Augusta, Macon and by the length of the I-75 strip situated between Atlanta and Chattanooga, Tennessee to take in the cities of Cartersville, Calhoun, Ringgold, and Dalton which is famous for its carpet manufacturing across the world.
With its huge number of inhabitants and position by the length of main transportation roads, Atlanta is the most important hub of tourism and sightseeing, transport, telecommunications, administration and manufacturing. A few manufacturing industries in Atlanta takes in vehicle and airplane manufacturing, printing and paper industry, and big firms. A few of the conglomerates having their head offices in the city of Atlanta region are: Arby's, Chick-fil-A, The Coca-Cola Company, Georgia-Pacific, Hooters etc.
With its reasonable winter weather conditions and its Southern allure and loveliness, the state is much admired holiday district. The Sea Islands are in particular famous for their panorama and holiday inns. Warm Springs, instituted with the aid of President Franklin D. Roosevelt for the cure of poliomyelitis, is at the present a chronological attraction .
Georgia has one among the most powerful armed forces existence in the United States. Quite a few United States martial set ups are there in the state of Georgia counting the likes of Fort Stewart, Hunter Army Airfield, Naval Submarine Base Kings Bay and others.
Georgia Energy Use and Manufacturing
75% is from coal,
16% is from nuclear energy,
7% is from oil and natural gas,
1% is from hydroelectric/other.
The major source of energy expenditure is the manufacturing industry for the reason that Georgia is a major state in terms of the power exhaustive timber and paper goods sectors.
Georgia State Taxes
Georgia State Tax Tables
| Tax Withholding Table Single | |||||
| If the Amount of Taxable Income Is: |
The Amount of Georgia Tax Withholding Should Be: |
||||
Over: |
But Not Over: |
Of Excess Over: |
|||
| $ 0 | $ 750 | $ 0.00 | plus | 1% | $ 0 |
| 750 | 2,250 | 7.50 | plus | 2% | 750 |
| 2,250 | 3,750 | 37.50 | plus | 3% | 2,250 |
| 3,750 | 5,250 | 82.50 | plus | 4% | 3,750 |
| 5,250 | 7,000 | 142.50 | plus | 5% | 5,250 |
| 7,000 | and over | 230.00 | plus | 6% | 7,000 |
| Married | |||||
| If the Amount of Taxable Income Is: |
The Amount of Georgia Tax Withholding Should Be: |
||||
Over: |
But Not Over: |
Of Excess Over: |
|||
| $ 0 | $ 500 | $ 0.00 | plus | 1% | $ 0 |
| 500 | 1,500 | 5.00 | plus | 2% | 500 |
| 1,500 | 2,500 | 25.00 | plus | 3% | 1,500 |
| 2,500 | 3,500 | 55.00 | plus | 4% | 2,500 |
| 3,500 | 5,000 | 95.00 | plus | 5% | 3,500 |
| 5,000 | and over | 170.00 | plus | 6% | 5,000 |
| Married or Head of Household | |||||
| If the Amount of Taxable Income Is: |
The Amount of Georgia Tax Withholding Should Be: |
||||
Over: |
But Not Over: |
Of Excess Over: |
|||
| $ 0 | $ 1,000 | $ 0.00 | plus | 1% | $ 0 |
| 1,000 | 3,000 | 10.00 | plus | 2% | 1,000 |
| 3,000 | 5,000 | 50.00 | plus | 3% | 3,000 |
| 5,000 | 7,000 | 110.00 | plus | 4% | 5,000 |
| 7,000 | 10,000 | 190.00 | plus | 5% | 7,000 |
| 10,000 | and over | 340.00 | plus | 6% | 10,000 |
Georgia Tax Limits
| File Status | Income Lower Limit | Income Upper Limit | Fix Withheld | Percentage Rate |
| S | $0.00 | $51.00 | $0.00 | 0.00% |
| S | $51.00 | $198.00 | $0.00 | 10.00% |
| S | $198.00 | $653.00 | $14.70 | 15.00% |
| S | $653.00 | $1,533.00 | $82.95 | 25.00% |
| S | $1,533.00 | $3,202.00 | $302.95 | 28.00% |
| S | $3,202.00 | $6,916 | $770.27 | 33.00% |
| S | $6,916 | up | $1,995.89 | 35.00% |
| M | $0.00 | $154.00 | $0.00 | 0.00% |
| M | $154.00 | $453.00 | $0.00 | 10.00% |
| M | $453.00 | $1,388 | $29.90 | 15.00% |
| M | $1,388 | $2,651 | $170.15 | 25.00% |
| M | $2,651 | $3,994 | $485.90 | 28.00% |
| M | $3,994 | $7,021 | $861.94 | 33.00% |
| M | $7021 | up | $1,860.85 | 35.00% |
Georgia Economy Overview
| Economy | Georgia |
| GDP: | purchasing power parity - $12.18 billion (2004 est.) |
| GDP - Real Growth Rate: | 5.5% (2004 est.) |
| GDP - per Capita: | purchasing power parity - $2,500 (2004 est.) |
| GDP - Composition by Sector: | agriculture: 20.5% industry: 22.6% services: 56.9% (2004 est.) |
| Investment (Gross Fixed): | 18% of GDP (2004 est.) |
| Population Below Poverty line: | 54% (2001 est.) |
| Household Income or Consumption by Percentage Share: | lowest 10%: 2.3% highest 10%: 27.9% (1996) |
| Distribution of Family Income - Gini Index: | 37.1 (1996) |
| Inflation Rate (consumer prices): | 4.8% (2004 est.) |
| Labor Force: | 2.1 million (2001 est.) |
| Labor Force - by Occupation: | agriculture 40%, industry 20%, services 40% (1999 est.) |
| Unemployment Rate: | 17% (2001 est.) |
| Budget: | revenues: $603.5 million expenditures: $700.5 million, including capital expenditures of NA (2004 est.) |
| Agriculture - Products: | citrus, grapes, tea, hazelnuts, vegetables; livestock |
| Industries: | steel, aircraft, machine tools, electrical appliances, mining (manganese and copper), chemicals, wood products, wine |
| Industrial Production Growth Rate: | 3% (2000) |
| Electricity - Production: | 7.27 billion kWh (2001) |
| Electricity - Consumption: | 7.611 billion kWh (2001) |
| Electricity - Exports: | 0 kWh (2001) |
| Electricity - Imports: | 850 million kWh (2001) |
| Oil - Production: | 2,000 bbl/day (2001 est.) |
| Oil - Consumption: | 31,500 bbl/day (2001 est.) |
| Oil - Exports: | NA (2001) |
| Oil - Imports: | NA (2001) |
| Natural Gas - Production: | 60 million cu m (2001 est.) |
| Natural Gas - Consumption: | 1.16 billion cu m (2001 est.) |
| Natural Gas - Exports: | 0 cu m (2001 est.) |
| Natural Gas - Imports: | 1.1 billion cu m (2001 est.) |
| Current Account Balance: | $-365 million (2004 est.) |
| Exports: | $615 million (2004 est.) |
| Exports - Commodities: | scrap metal, machinery, chemicals; fuel reexports; citrus fruits, tea, wine |
| Exports - Partners: | Russia 17.7%, Turkey 17.3%, Turkmenistan 12.2%, Armenia 8.6%, Switzerland 6.9%, Ukraine 6.3%, UK 5.9% (2003) |
| Imports: | $1.25 billion (2003 est.) |
| Imports - Commodities: | fuels, machinery and parts, transport equipment, grain and other foods, pharmaceuticals |
| Imports - Partners: | Russia 14%, UK 12.9%, Turkey 9.9%, Azerbaijan 8.3%, US 8%, Germany 7.3%, Ukraine 7%, France 4.9% (2003) |
| Reserves of Foreign Exchange & Gold: | $190.7 million (2004 est.) |
| Debt - External: | $1.8 billion (2002) |
| Economic Aid - Recipient: | ODA $150 million (2000 est.) |
| Currency: | lari (GEL) |
| Currency Code: | GEL |
| Exchange Rates: | lari per US dollar - 2.1457 (2003), 2.1957 (2002), 2.073 (2001), 1.9762 (2000), 2.0245 (1999) |
| Fiscal Year: | calendar year |
