Georgia's gross domestic product advanced by 14.9 percent year-on-year in the March quarter of 2022, up from an 8.8 percent growth in the previous period. It was the fourth consecutive quarter of economic expansion and at a solid pace, supported by the easing impact of the pandemic and surging tourist arrivals. That said, notable growth was observed in accommodation & food services (70.3 percent); arts, entertainment and recreation (47.9 percent); transportation & storage (29.4 percent); administrative and support service activities (29.1 percent) and information & communication (21.1 percent). Positive contributions also came from mining (24.9 percent), manufacturing (13.2 percent), internal trade (8.9 percent) and construction (7.3 percent). source: National Statistics Office of Georgia
GDP Annual Growth Rate in Georgia averaged 5.18 percent from 2004 until 2022, reaching an all time high of 28.90 percent in the second quarter of 2021 and a record low of -14.50 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 June of 2022.
GDP Annual Growth Rate in Georgia is expected to be 5.00 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 4.00 percent in 2023, according to our econometric models.