Georgian economy grows 5.8% in Q3 of 2019

The real gross domestic product (GDP) growth rate in Georgia in the third quarter (Q3) of 2019 came out to 5.8 per cent year on year (y/y) shows the preliminary data from the National Statistics Office of Georgia (Geostat).

In Q3 of 2019 the nominal GDP amounted to GEL 13.4 billion GEL ($4.61 bln/€4.14 bln).

Leading activities where the real growth was registered were the following:

• Arts, entertainment and recreation - 19.9 per cent
• Information and communication - 18.2 per cent
• Construction - 17.1 per cent 

A decrease was registered in the following activities:

• Public administration and defence; compulsory social security - 4 per cent
• Mining and quarrying – 2.2 per cent
• Financial and insurance activities – 2.2 per cent

The leading activities which account for the largest shares of GDP were the following:

• Trade – 14.3 per cent
• Real estate – 10.9 per cent
• Manufacturing – 10.8 per cent

The World Bank forecasts 4.6 per cent economic growth in Georgia in 2019, 4.8 per cent in 2020 and 5 per cent in 2021, shows the Europe and Central Asia Economic Update of the World Bank.

The Asian Development Bank has also published its economic forecast recently, which said that the Georgian economy will grow by 5 per cent in 2019 and by 4.9 per cent in 2020.