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Quarter 1, 2024 Macro Review | Georgia’s robust growth amid global recovery challenges
28 June 2024

According to GeoStat’s preliminary estimates in the first quarter of 2024, Georgia’s nominal GDP reached GEL 18,913.2 million, with a year-over-year real GDP growth of 8.4% and a GDP deflator change of 3.1%. The growth was driven by significant increases in value-added across various sectors: Real estate activities rose by 18.8%, Education by 29.1%, Public administration and defence, including social security, by 13.0%, Construction by 10.3%, Information and communication by 12.2%, and Transportation and storage by 9.7%.

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%.

May 2024 | Economic growth stays strong despite risks: export/import drops, remittance challenges, and low inflation
24 May 2024

Geostat has published its preliminary estimate of real GDP growth for March 2024, which stands at 8.2%. In addition, the estimated growth for the first quarter of 2024 reached 7.8%.

April 2024 | National and foreign currency deposits, merchandise trade, and remittances: key drivers of Georgia's April 2024 GDP forecast
25 April 2024

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.

Quarter 4, 2023 Macro Review | Georgia's economic resurgence: GDP growth exceeds forecasts amid global slowdown
01 April 2024

Similar to the year 2022, Georgia stayed on the path of economic recovery from COVID-19 in 2023 as well. According to GeoStat’s preliminary estimates, the real GDP continues to show a relatively high growth rate, measuring at 7.5% y/y in 2023 – which is remarkably higher than the NBG’s real GDP growth expectation of 6% from October 2023.

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