Real gross domestic product
Real gross domestic product (real GDP for short) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e. inflation or deflation). This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output. Although GDP is total output, it is primarily useful because it closely approximates the total spending: the sum of consumer spending, investment made by industry, excess of exports over imports, and government spending. Due to inflation, GDP increases and does not actually reflect the true growth in an economy. That is why the GDP must be divided by the inflation rate (raised to the power of units of time in which the rate is measured) to get the growth of the real GDP. Different organizations use different types of 'Real GDP' measures, for example the United Nations UNCTAD uses 2005 Constant prices and exchange rates while the FRED uses 2009 constant prices and exchange rates, and recently the World Bank switched from 2005 to 2010 constant prices and exchange rates.
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.