Georgia: Oil rents (% of GDP)

Key figures

What the numbers say

In 2021, Georgia's oil rents (% of GDP) rose 0.01 percentage points on 2020 (from 0.02% to 0.03%).

Across the 30 yearly changes before that (1991 to 2020), the average change was −0.01 percentage points and a typical year strayed about 0.1 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 0.18 percentage points in 2000 and the biggest yearly fall was 0.19 percentage points in 1991. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2012 to 2021 the straight-line trend is downward, about 0.01 percentage points a year. A straight line explains 70% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2021, Georgia had the 86th highest value of the 188 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Georgia in the 2021 ranking

• Philippines — 83rd of 188: 0.03%
• Bangladesh — 84th of 188: 0.03%
• Belgium — 85th of 188: 0.03%
• Korea, Rep. — 87th of 188: 0.03%
• Sweden — 88th of 188: 0.03%
• Netherlands — 89th of 188: 0.02%

What this measures

Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 32 values

Oil rents (% of GDP) in nearby economies

• Albania — 1.04% (2021)
• Armenia — 0% (2021)
• Austria — 0.04% (2021)
• Azerbaijan — 20.98% (2021)
• Belarus — 0.81% (2021)
• Belgium — 0.03% (2021)
• Bosnia and Herzegovina — 0% (2021)
• Bulgaria — 0.02% (2021)
• Croatia — 0.28% (2021)
• Cyprus — 0% (2021)
• Czechia — 0.00966% (2021)
• Denmark — 0.27% (2021)

More environment data for Georgia

• Population in largest city — 1.09 million (2025)
• Population in the largest city (% of urban population) — 45.15% (2025)
• Population in urban agglomerations of more than 1 million — 1.09 million (2025)
• Population in urban agglomerations of more than 1 million (% of total population) — 27.62% (2025)
• Rural population — 1.53 million (2025)
• Rural population (% of total population) — 38.82% (2025)
• Urban population — 2.41 million (2025)
• Urban population (% of total population) — 61.18% (2025)
• Rural population growth (annual %) — 2.93% (2025)
• Urban population growth (annual %)

Reading data like this

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Questions people ask

What is Georgia's oil rents (% of GDP)?

0.03% in 2021, according to the World Bank (World Development Indicators).

How has it changed since 1990?

It is down 0.39 percentage points from 0.42% in 1990. The highest value was 0.42% in 1990 and the lowest 0.02% in 2020.

How does Georgia rank?

86th highest of 188 economies with data for 2021.

Is the latest change in oil rents (% of GDP) unusual for Georgia?

In 2021, Georgia's oil rents (% of GDP) rose 0.01 percentage points on 2020 (from 0.02% to 0.03%). Across the 30 yearly changes before that (1991 to 2020), the average change was −0.01 percentage points and a typical year strayed about 0.1 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NY.GDP.PETR.RT.ZS, licensed CC BY 4.0. Original source: The Changing Wealth of Nations, World Bank (WB), uri: https://www.worldbank.org/en/publication/changing-wealth-of-nations/data, note: World Bank staff estimates based on sources and methods described in the World Bank's The Changing Wealth of Nations., publisher: World Bank (WB); Staff estimates, Wo… Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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