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.
GDP Annual Growth Rate in Georgia averaged 5.42 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. 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 April of 2020.
GDP Annual Growth Rate in Georgia is expected to be 4.20 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 -1.80 in 12 months time. In the long-term, the Georgia GDP Annual Growth Rate is projected to trend around 0.50 percent in 2021 and 3.50 percent in 2022, according to our econometric models.