Indexes
December 2020 GDP Forecast | Decline in global oil prices drives trade balance and inflation rate improvements in Georgia
16
December
2020
ISET-PI has updated its real GDP growth forecast for the fourth quarter of 2020 and the first quarter of 2021. Here are the highlights of this month’s release:
The real GDP growth rate amounted to -3.9% year-on-year for October 2020. Consequently, the estimated real GDP for the first ten months of 2020 was -5.1%.
Recently, GeoStat released its preliminary estimate of real GDP growth for the first and second quarters of 2020. The Q1 and Q2 growth rates were revised downward to 2.2% (by 0.1 ppt) and -13.2% (by 0.9 ppt) respectively.
As a result of the update, the growth forecast for Q4 of 2020 remained unchanged, at -3.3%. ISET-PI’s second forecast for Q1 of 2021 puts GDP growth at -1.6%.
Based on October’s data, we expect annual growth in 2020 to be -4.6%, which is 0.2 percentage points lower than the previous forecast.
According to ISET-PI’s recent forecast, GDP growth in the first quarter of 2021 decreased from -1.4% to -1.6%. This correction can mostly be explained by GeoStat’s downward revision of the Q1 and Q2 growth rates (by 0.1 and 0.9 percentage points respectively). Otherwise, from the standpoint of the October data, several variables changed significantly, which affected the growth predictions.
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November 2024 | Economic growth anchored by lending and trade, challenged by currency depreciation
20
November
2024
GeoStat has published its preliminary estimate of real GDP growth for September 2024, which stands at 8.3%. In addition, the estimated growth for the first, second, and third quarters of 2024 reached 8.4%, 9.6%, and 11.1%, respectively. Consequently, the average real GDP growth from January to September 2024 reached 9.8%.
October 2024 | Economic indicators for georgia's growth: august 2024 gdp boosted by lending expansion and trade gains
25
October
2024
Geostat has published its preliminary estimate of real GDP growth for July 2024, which stands at 13%. In addition, the estimated growth for the first and second quarters of 2024 reached 8.4% and 9.6%, respectively. Consequently, the average real GDP growth from January to August 2024 reached 10%.
September 2024 | Georgia sustains robust growth outlook: strengthened external sector and expanded lending drive economic momentum
23
September
2024
Geostat has published its preliminary estimate of real GDP growth for July 2024, which stands at 13%. In addition, the estimated growth for the first and second quarters of 2024 reached 8.4% and 9.5%, respectively. As a result, the average real GDP growth from January to July 2024 was 9.7%.
July 2024 | Strong growth forecast persists despite May 2024 trade decline, remittance drop, and lari depreciation
22
July
2024
Geostat has published its preliminary estimate of real GDP growth for May 2024, which stands at 9.2%. In addition, the estimated growth for the first quarter of 2024 reached 8.4%, which is 0.6 ppt higher than the previous estimate. As a result, the average real GDP growth for January - May 2024 reached 9.3%.
June 2024 | Resilient GDP growth forecast despite trade and remittance challenges in April
24
June
2024
Geostat has published its preliminary estimate of real GDP growth for April 2024, which stands at 11.8%. In addition, the estimated growth for the first quarter of 2024 reached 7.8%.
