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.

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Georgia GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-06-18 07:00 AM Q1 -4.5% -6.8% -3%
2021-09-17 07:00 AM Q2 29.9% -4.5% 10%
2021-12-20 07:00 AM Q3 29.9%


Related Last Previous Unit Reference
GDP Annual Growth Rate 29.90 -4.50 percent Jun/21
GDP Constant Prices 11475.30 8662.40 GEL Million Jun/21
Gross Fixed Capital Formation 3476.50 3003.20 GEL Million Jun/21
Gross National Product 15100.00 10819.80 GEL Million Jun/21
GDP From Utilities 213.80 177.30 GEL Million Jun/21
GDP From Transport 615.68 439.30 GEL Million Jun/21
GDP From Services 1468.80 1019.40 GEL Million Jun/21
GDP From Public Administration 676.70 698.30 GEL Million Jun/21
GDP From Mining 122.70 149.20 GEL Million Jun/21
GDP From Manufacturing 1121.30 875.90 GEL Million Jun/21
GDP From Construction 658.30 365.90 GEL Million Jun/21
GDP From Agriculture 760.73 532.10 GEL Million Jun/21

News Stream
Georgia GDP Rebounds at Record Pace
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).
2021-09-17
Georgia Economy Contracts Less in Q1
Georgia's gross domestic product shrank by 4.5% year-on-year in the first quarter of 2021, after a 6.8% fall in the previous period. It was the fourth straight quarter of contraction in the GDP, amid the ongoing pandemic crisis. Output fell at a softer pace primarily in manufacturing (-2.6% vs -3% in Q4); transportation & storage (-9% vs -26.7%) and professional, scientific and technical activities (-0.2% vs -17.5%). In addition, notable growth was recorded in mining & quarrying (50.3% vs -19.5%); wholesale and retail trade; repair of motor vehicles and motorcycles (3.9% vs -3.9%); information and communication (16.8% vs 3.7%) and financial and insurance activities (24% vs 7.2%). Meanwhile, the hospitality sector (-54% vs -53.8%) remained severely depressed.
2021-06-18
Georgia Economy Shrinks 6.8% in Q4
Georgia's economy shrank by 6.8% year-on-year in Q4 of 2020, after a 5.6% fall in the previous period. It was the third straight quarter of contraction in the GDP, as the COVID-19 pandemic took a huge toll on activity and demand. Contractions were seen in electricity, gas, steam and air conditioning supply (-5.4% vs -11.5% in Q3); wholesale & retail trade (-3.9% vs -0.3%); accommodation & food services (-53.8% vs -53.1%); transportation & storage (-26.7% vs -25.0%); arts, entertainment and recreation (-27.9% vs -32.4%); water supply, sewerage, waste management and remediation activities (-9.7% vs -11.4%); manufacturing (-3.0% vs 0.6%); construction (-1.2% vs 2.0%). By contrast, production grew for: agricultural activities (5.2% vs 1.5%); real estate activities (0.5% vs -0.8%); finance & insurance (7.2% vs -4.4%), and information and communication (3.7% vs 1.9%). Considering 2020 full year, the economy contracted by 6.2%, reversing from a 5.0% expansion in 2019.
2021-03-22

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.