Georgia's economy advanced by 2.2% year-on-year in the first quarter of 2020, slowing from a 5.1% growth in the previous period. It was the weakest pace of expansion since the last quarter of 2016, reflecting the early effects of tough containment measures deployed at the end of March to contain the Covid-19 pandemic. Output grew much softer in wholesale & retail trade; repair of motor vehicles, motorcycles and personal & household goods (0.2% vs 12.4% in Q4); accommodation & food services (0.3% vs 8.9%); real estate activities (1.6% vs 7%); manufacturing (5.7% vs 6.3%); transportation & storage (4.7% vs 8.3%) and arts, entertainment and recreation (16.2% vs 25.2%). In addition, contractions were seen in professional, scientific & technical activities (-13.1% vs 14.4%); finance & insurance (-6.1% vs -10.3%) and electricity, gas supply (-6.6% vs 4.2%). In contrast, agricultural activity rebounded slightly (0.3% vs -5.1%).

GDP Annual Growth Rate in Georgia averaged 5.36 percent from 2004 until 2020, 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. This page provides - Georgia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Georgia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.

GDP Annual Growth Rate in Georgia is expected to be -6.50 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 -0.50 in 12 months time. In the long-term, the Georgia GDP Annual Growth Rate is projected to trend around 3.00 percent in 2021 and 3.50 percent in 2022, according to our econometric models.

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Georgia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.20 5.10 13.90 -8.70 2004 - 2020 percent Quarterly
Constant prices 2015, NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-09-18 07:00 AM Q2 4.5% 4.9% 5.30%
2019-12-19 07:00 AM Q3 5.8% 4.6% 5.10%
2020-03-20 07:00 AM Q4 5.1% 5.8% 5.3%
2020-06-19 07:00 AM Q1 2.2% 5.1% 4.2%
2020-09-18 07:00 AM Q2 2.2% -6.5%
2020-12-18 07:00 AM Q3 -4.7%


News Stream
Georgia GDP Growth Slowest since 2016
Georgia's economy advanced by 2.2% year-on-year in the first quarter of 2020, slowing from a 5.1% growth in the previous period. It was the weakest pace of expansion since the last quarter of 2016, reflecting the early effects of tough containment measures deployed at the end of March to contain the Covid-19 pandemic. Output grew much softer in wholesale & retail trade; repair of motor vehicles, motorcycles and personal & household goods (0.2% vs 12.4% in Q4); accommodation & food services (0.3% vs 8.9%); real estate activities (1.6% vs 7%); manufacturing (5.7% vs 6.3%); transportation & storage (4.7% vs 8.3%) and arts, entertainment and recreation (16.2% vs 25.2%). In addition, contractions were seen in professional, scientific & technical activities (-13.1% vs 14.4%); finance & insurance (-6.1% vs -10.3%) and electricity, gas supply (-6.6% vs 4.2%). In contrast, agricultural activity rebounded slightly (0.3% vs -5.1%).
2020-06-19
Georgia GDP Growth Slows to 5.1% in Q4
Georgia’s GDP expanded 5.1% year-on-year in the fourth quarter of 2019, slowing from a 5.8% advance in the previous period. Output growth eased for: construction (1.4% vs 17.1% ), information and communication (17% vs 18.2%), other service activities (5.1% vs 7.7%). Output growth accelerated mainly for: manufacturing (6.3% vs 4.9%), transport (8.3% vs 2.2%), real estate activities (7% vs 3.8%), arts, entertainment and recreation (25.2% vs 19.9% ), electricity, gas and water supply (4.2% vs 2.6%), wholesale and retail trade; repair of motor vehicles, motorcycles and personal and household goods (12.4% vs 9.8%), education (11.2% vs 6.3%), while that of mining and quarrying rebounded (0.4% vs -2.2%). Conversely, output shrank for: agriculture, hunting and forestry, fishing (-5.1% vs 2.1%), insurance activities (-10.3% vs -2.2 percent), and public administration (-2.6% vs -4.0%). Considering full year 2019, the enomy grew 5.1% from a year earlier, after expanding by 4.8% in 2018.
2020-03-20
Georgia GDP Growth Strongest in 1-1/2 Years
Georgia’s GDP expanded 5.8 percent year-on-year in the third quarter of 2019, accelerating from an upwardly revised 4.6 percent advance in the previous period. This was the strongest GDP growth rate since the first quarter last year. Growth was driven by construction (17.1 percent), manufacturing (4.9 percent), transport (2.2 percent), real estate, renting and business activities (3.8 percent), arts, entertainment and recreation (19.9 percent), electricity, gas and water supply (2.6 percent), communication (18.2 percent), health and social work (8.1 percent), wholesale and retail trade; repair of motor vehicles, motorcycles and personal and household goods (9.8 percent), other service activities (7.7 percent), agriculture, hunting and forestry, fishing (2.1 percent), and education (6.3 percent). On the other hand, financial intermediation (-2.2 percent), public administration (-4.0 percent), mining and quarrying (-2.2 percent) contributed negatively to growth.
2019-12-19
Georgia GDP Grows 4.5% YoY in Q2
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.
2019-09-18

Georgia GDP Annual Growth Rate
The most important sector of Georgian economy is services and accounts for 69 percent of total GDP, of which wholesale and retail trade, repair of motor vehicles, motorcycles and personal and household goods (17 percent); public administration (8 percent); transport (8 percent) and real estate, renting and business activities (7 percent). Industry constitutes 23 percent with manufacturing (10 percent) and construction (9 percent). Agriculture, hunting, forestry and fishing create 8 percent of the wealth. On the expenditure side, household consumption is the main component of GDP and accounts for 61 percent of its total use, followed by gross fixed capital formation (30 percent) and government expenditure (17 percent). Exports of goods and services account for 50 percent of GDP while imports account for 62 percent, subtracting 12 percent of total GDP.