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. source: National Statistics Office of Georgia
GDP Annual Growth Rate in Georgia averaged 5.05 percent from 2004 until 2021, 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 May of 2022.
GDP Annual Growth Rate in Georgia is expected to be 3.50 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 4.50 percent in 2023, according to our econometric models.