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 June of 2020.
GDP Annual Growth Rate in Georgia is expected to be -6.50 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 -0.50 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.