Due to a recent update in Geostat's GDP calculation methodology in December, revised growth rates show an upward trend compared to the previous month's figures. Consequently, our forecast for GDP growth has been adjusted upwards to reflect this change.
Following the collapse of the Soviet Union, Georgia faced significant economic challenges, including political instability and conflicts. This resulted in a severe economic recession in the 1990s, with GDP contracting sharply.
Geostat has released its rapid estimate of real GDP growth for January 2024. The estimated growth stands at 5.8%, while the estimated growth of 2023 reached 7.5%.
Geostat has released its rapid estimate of real GDP growth for December 2023. The estimated growth stands at 8.3%, while the average annual real GDP growth reached 7%.
Geostat has released its rapid estimate of real GDP growth for November 2023. The estimated growth stands at 5.9%, while the average real GDP growth for January-November 2023 reached 6.9%.