Real versus nominal value (economics)
Gross domestic product (GDP) is a measure of aggregate output. Nominal GDP in a particular period reflects prices which were current at the time, whereas real GDP compensates for inflation. Price indices and the U.S. National Income and Product Accounts are constructed from bundles of commodities and their respective prices. In the case of GDP, a suitable price index is the GDP price index. In the U.S. National Income and Product Accounts, nominal GDP is called "GDP in current dollars" (that is, in prices current for each designated year), and real GDP is called "GDP in [base-year] dollars" (that is, in dollars that can purchase the same quantity of commodities as in the base year).
Tbilisi
With a GDP at basic prices of 12,147 Million Georgian lari(€4.3 billion) in 2014, Tbilisi is the economic center of the country, generating almost 50 percent of Georgia's GDP. The service sector, including government services, is dominating and contributes 88 percent to GDP. Its GDP per capita of 10,336 Georgian Lari(€3,600) is exceeding the national average by more than 50 percent. The service sector itself is dominated by the wholesale and retail trade sector, reflecting the role of Tbilisi as transit and logistics hub for the country and the South Caucasus. The manufacturing sector contributes only 12 percent to Tbilisi's GDP, but is much larger, by employment and total value added, than the manufacturing sectors in any other region of Georgia. The unemployment rate in Tbilisi is – with 22.5 percent – significantly higher in Tbilisi than in the regions.