Georgia’s economy grows 5.6% in December 2018
The real GDP average growth amounted 4.8% for 2018 year-on-year. Photo: Nino Alavidze/Agenda.ge.
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Georgia’s economy is growing steadily, show the latest data from the National Statistics Office of Georgia (Geostat).
The estimated real gross domestic product (GDP) growth rate in December 2018 equaled 5.6% year-on-year (y/y), while the real GDP average growth amounted 4.8% for 2018 y/y.
Last month the estimated real growth, compared to the same period of the previous year, was posted in the following activities:
- Manufacturing
- Construction
- Hotels and restaurants
- Real estate, renting and business activities
A decrease was registered in:
- Electricity, gas and water supply
- Transport
- Financial intermediation
Various international financial institutions also have positive expectations for Georgia’s economic growth.
In 2018, the World Bank predicts Georgia’s economic growth to hit 4.2% while the European Bank for Reconstruction and Development (EBRD) says Georgia’s economy will grow by 4.5%.
The Asian Development Bank (ADB) raised Georgia’s 2018 growth forecast to 4.9% from the estimate of 4.5% reflecting strong growth in tourism and robust investment after an increase in business and investor confidence.
The International Monetary Fund (IMF) has moved its forecast up, saying the Georgian economy will grow by 5.5% in 2018.
The Georgian economy grew 4.7% year-on-year in the first 11 months of 2018, announces the National Statistics Office of Georgia (Geostat).The estimated real GDP growth rate in November 2018 was equal to 2.2% year-on-year, Geostat said.
The largest share of gross domestic product (GDP) of Georgia by region was held by the capital city of Tbilisi (50.1%), followed by the regions of Imereti (10%), Adjara (8.9%), Kvemo Kartli (8.2%) and Samegrelo-Zemo Svaneti (6.4%).
The Georgian economy grew 5.7% year-on-year in the first 10 months of 2018, announces the National Statistics Office of Georgia (Geostat). The estimated real gross domestic product (GDP) growth rate in October 2018 was equal to 6.7% year-on-year, Geostat said.
Georgia’s economy is growing steadily, show the latest data from the National Statistics Office of Georgia (Geostat).
Georgia’s economy is growing steadily, show the latest data from the National Statistics Office of Georgia (Geostat).
What does last year look like in numbers?
The director of the National Statistics Office of Georgia (Geostat) Gogita Todradze summirised 2018 and highlighted Georgia’s main statistical data from the past year earlier today.