Georgian economy grows 5.8% in Q3 of 2019
In Q3 of 2019 the nominal GDP amounted to GEL 13.4 billion GEL ($4.61 bln/€4.14 bln). Photo: Nino Alavidze/Agenda.ge.
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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.
The World Bank forecasts 4.6% economic growth in Georgia in 2019, 4.8% in 2020 and 5% in 2021, shows the Europe and Central Asia Economic Update of the World Bank.
The Georgian gross domestic product (GDP) has increased 5.2 per cent in September 2019 compared to the same period of last year, show the latest data from the National Statistics Office of Georgia (Geostat).
The real gross domestic product (GDP) growth rate in Georgia in the second quarter (Q2) of 2019 came out to 4.5 per cent year on year (y/y) announces the latest data from National Statistics Office of Georgia (Geostat).
The Georgian gross domestic product (GDP) grew 5.7 per cent in October 2019 compared to the same period of last year, show the latest data from the National Statistics Office of Georgia (Geostat).
In November 2019 the estimated real growth compared to the same period of the previous year occurred in the following sectors: manufacturing, transport and storage, construction, wholesale and retail trade; repair of motor vehicles and motorcycles. A decrease was registered in real estate activities and in the arts, entertainment and recreation activities.
Georgian gross domestic product (GDP) grew 3.8 per cent in December 2019 compared to the same period of last year, show the latest data from the National Statistics Office of Georgia (Geostat).
In Georgia the estimated real gross domestic product (GDP) growth rate in January 2020 equalled 5.1 per cent year-on-year, announces the National Statistics Office of Georgia.
The real growth of gross domestic product (GDP) in Georgia amounted to 5.1 per cent in 2019 and the deflator percentage change equalled 6.6 per cent year-on-year, show the preliminary data published by the National Statistics Office of Georgia.