Georgia's gross domestic product surged 29.9 percent year-on-year in the June quarter of 2021, rebounding from a 4.5 percent contraction in the previous period. It was the first quarter of economic expansion since the three months ending March of 2020, and the strongest growth rate on record amid low base year effects and the lifting of restrictions. Output bounced back markedly in arts, entertainment & recreation (133.6 percent); accommodation & food services (75.5 percent); wholesale & retail trade (53.9 percent); water supply, sewerage & waste management (49.8 percent); financial & insurance activities (45.5 percent); and manufacturing (42.3 percent). source: National Statistics Office of Georgia
GDP Annual Growth Rate in Georgia averaged 4.97 percent from 2004 until 2021, reaching an all time high of 29.90 percent in the second quarter of 2021 and a record low of -13.20 percent in the second quarter of 2020. 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 December of 2021.
GDP Annual Growth Rate in Georgia is expected to be 8.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Georgia GDP Annual Growth Rate is projected to trend around 4.50 percent in 2022, according to our econometric models.