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.

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Georgia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-21 07:00 AM Q4 8.8% 9.1% 10.5%
2022-06-20 07:00 AM Q1 14.9% 8.8% 4%
2022-09-19 07:00 AM Q2 14.9%


Related Last Previous Unit Reference
GDP Annual Growth Rate 14.90 8.80 percent Mar 2022
GDP Constant Prices 10089.40 10988.90 GEL Million Mar 2022
Gross Fixed Capital Formation 3118.20 3014.30 GEL Million Dec 2021
Gross National Product 16300.00 14900.00 GEL Million Dec 2021
GDP From Utilities 252.00 275.20 GEL Million Dec 2021
GDP From Transport 612.90 442.50 GEL Million Dec 2021
GDP From Services 1599.30 1517.10 GEL Million Dec 2021
GDP From Public Administration 708.70 674.00 GEL Million Dec 2021
GDP From Mining 127.70 131.90 GEL Million Dec 2021
GDP From Manufacturing 766.40 793.80 GEL Million Dec 2021
GDP From Construction 494.30 440.20 GEL Million Dec 2021
GDP From Agriculture 649.80 891.50 GEL Million Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
14.90 8.80 28.90 -14.50 2004 - 2022 percent Quarterly
Constant prices 2015, NSA

News Stream
Georgia GDP Growth Strengthens to 14.9% YoY in Q1
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).
2022-06-20
Georgia GDP Growth Slows to 8.8% In Q4
Georgia's gross domestic product advanced 8.8 percent year-on-year in the December quarter of 2021, easing from a 9.1 percent growth in the previous period. It was the third straight quarter of economic expansion, amid low base effects and the lifting of restrictions. On the production side, output expanded softer for arts, entertainment & recreation (31.0 percent vs 48.1 percent in Q3); wholesale & retail trade (11.2 percent vs 12.3 percent); financial & insurance activities (10.1 percent vs 20.3 percent); manufacturing (0.2 percent vs 7.3 percent). Meanwhile, output continued to grow for accommodation & food services (72.8 percent vs 49.8 percent); water supply, sewerage & waste management 54.5 percent vs 35.1 percent), and real estate activities (15.0 percent vs 6.6 percent). For 2021 full year, the economy advanced by 10.4% year-on-year, recovering sharply from a 6.8% contraction in 2020.
2022-03-21
Georgia GDP Growth Eases in Q3
Georgia's gross domestic product advanced 9.1 percent year-on-year in the September quarter of 2021, slowing sharply from a downwardly revised 28.9 percent surge in the previous period. It was the second straight quarter of economic expansion, amid the diminishing low base effects and the lifting of restrictions. On the production side, output expanded softer for arts, entertainment & recreation (48.1 percent vs 81.0 percent in Q2); accommodation & food services (49.8 percent vs 99.4 percent); wholesale & retail trade (12.3 percent vs 58.9 percent); water supply, sewerage & waste management (35.1 percent vs 43.4 percent); financial & insurance activities (20.3 percent vs 45.0 percent); manufacturing (7.3 percent vs 36.2 percent), and real estate activities (6.6 percent vs 19.7 percent).
2021-12-20