According to Geostat’s rapid estimates, real GDP grew by 2.1% in July 2016, while the growth rate for Q2 stood at 2.3% year over year (YoY). The estimated second quarter growth was thus 1.6 percentage points lower than ISET-PI’s GDP forecast for the quarter.
Based on new information, the ISET-PI forecast for Q3 has been lowered from 4.8% to 3.5%. The Q4 forecast remains largely the same at 4.2%. The estimated real GDP growth for the first seven months of 2016 was 2.7% YoY. This is 0.7 percentage points less than ISET-PI’s annual GDP forecast.
Low regional demand and other negative spillovers from neighboring countries’ weak economies have contributed to relatively low growth rates in Georgia.
Consumer and business confidence has been edging up compared to last year. ISET-PI’s Consumer Confidence Index (CCI) gives reason for optimism, showing a clear positive trend in the reporting year. In July 2016, the CCI continued the upward trend and showed a monthly increase of 2.8 points in the overall index.
06
October
2025
According to GeoStat’s preliminary estimates in the second quarter of 2025, Georgia’s nominal GDP reached GEL 25 347.0 million, with a year-over-year real GDP growth of 7.3% and a GDP deflator change of 4.8%. Per-capita GDP stood at GEL 6,842. The economic expansion was largely driven by strong growth in several key sectors.
01
July
2025
According to GeoStat’s preliminary estimates in the first quarter of 2025, Georgia’s nominal GDP reached GEL 21,798.2 million, with a year-over-year real GDP growth of 9.8% and a GDP deflator change of 3.4%. The economic expansion was largely driven by strong growth in several key sectors. The most notable increases were observed in Education (+27.7%), Information and communication (+28.5%), Administrative and support service activities (29.7%), Human health and social work activities (17.9%).
28
February
2025
According to GeoStat’s preliminary estimates in the fourth quarter of 2024, Georgia’s nominal GDP reached GEL 25,309.6 million, with a year-over-year real GDP growth of 8.3% and a GDP deflator change of 4.0%. The economic expansion was largely driven by strong growth in several key sectors. The most notable increases were observed in Education (+36.2%), Information and communication (+29.7%), Human health and social work activities (23.6%), Mining and quarrying (22.5%).
08
January
2025
According to GeoStat’s preliminary estimates in the second quarter of 2024, Georgia’s nominal GDP reached GEL 24,855.7 million, with a year-over-year real GDP growth of 11.0% and a GDP deflator change of 4.3%. The growth was driven by significant increases in value-added across various sectors: Education activities rose by 35.6%, Information and communication rose by 32.8%, Construction by 30.9%, Financial and insurance activities by 22.9%, Public administration and defense, including social security by 14.7% and Wholesale and retail trade, including repair of motor vehicles and motorcycles by 11%. Conversely, there was a decline in value-added in electricity, gas, steam, and air conditioning supply by 13.6% and in Real estate activities by 4.9%.
02
October
2024
According to GeoStat’s preliminary estimates in the second quarter of 2024, Georgia’s nominal GDP reached GEL 22,101.7 million, with a year-over-year real GDP growth of 9.6% and a GDP deflator change of 2.5%. The growth was driven by significant increases in value-added across various sectors: Accommodation and food service activities rose by 35.7%, Education by 21.3%, household activities as employers and producers of goods and services for personal use by 17.3%, Transportation and storage by 16.1%, Public administration and defense, including social security, by 13.3%, and Construction by 13%.
