The Georgian economy grew 4.5 percent year-on-year in the fourth quarter of 2018, following a 3.7 percent expansion in the previous period. The growth accelerated for wholesale & retail trade (6.1% vs 2.4% in Q3 2018); hotels & restaurants (16.1% vs 7.4%); communication (10.0% vs 8.9%); and agriculture (5.4% vs 3.8%). In addition, output rebounded for both public administration (1.2% vs -2.9%) and manufacturing (0.5% vs -2.3%). On the other hand, output slowed for mining and quarrying (3.2% vs 6.2%); financial intermediation (8.6% vs 15.0%); transport (12.6% vs 16.2%) and real estate activities (10.7% vs 13.4%). Meanwhile, contractions were seen in electricity, gas, and water supply (-8.4% vs 0.9%) and construction (-2.4% vs -9.2%). For 2018 as a whole, the economy expanded 4.7 percent, easing from a 4.8 percent advance in 2017. GDP Annual Growth Rate in Georgia averaged 5.35 percent from 2004 until 2018, 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.
GDP Annual Growth Rate in Georgia is expected to be 5.30 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 4.20 in 12 months time. In the long-term, the Georgia GDP Annual Growth Rate is projected to trend around 4.40 percent in 2020, according to our econometric models.