Georgia’s GDP expanded 4.5 percent year-on-year in the second quarter of 2019, easing from a 4.9 percent advance in the previous period. Growth was driven by transport (17.9 percent), real estate, renting and business activities (16.9 percent), hotels and restaurants (14.1 percent), electricity, gas and water supply (11.5 percent), communication (10.8 percent), health and social work (9.3 percent), wholesale and retail trade; repair of motor vehicles, motorcycles and personal and household goods (7.4 percent), other community, social and personal service activities (5.2 percent), financial intermediation (4.3 percent), public administration (3.0 percent) and agriculture, hunting and forestry; fishing (2.1 percent). On the other hand, education (-7.9 percent), mining and quarrying (-7.7 percent), construction (-4.6 percent), manufacturing (-4.5 percent) contributed negatively to growth. GDP Annual Growth Rate in Georgia averaged 5.33 percent from 2004 until 2019, reaching an all time high of 13.90 percent in the third quarter of 2007 and a record low of -8.70 percent in the second quarter of 2009.
GDP Annual Growth Rate in Georgia is expected to be 5.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Georgia to stand at 4.60 in 12 months time. In the long-term, the Georgia GDP Annual Growth Rate is projected to trend around 4.40 percent in 2020, according to our econometric models.