Georgia GDP Annual Growth Rate

Last Release

Mar 31, 2024

Actual

8.4

Units In

6.9

Frequency

Quarterly

Next Release

Jun 19, 2025

Time to Release

2 Months 27 Days 3 Hours

Highest	Lowest	Average	Date Range	Source
28.9 Jun 2021	-14.5 Jun 2020	5.42 %	2004-2024	National Statistics Office of Georgia

The most important sector of Georgian economy is services and accounts for 69 percent of total GDP, of which wholesale and retail trade, repair of motor vehicles, motorcycles and personal and household goods (17 percent); public administration (8 percent); transport (8 percent) and real estate, renting and business activities (7 percent). Industry constitutes 23 percent with manufacturing (10 percent) and construction (9 percent). Agriculture, hunting, forestry and fishing create 8 percent of the wealth. On the expenditure side, household consumption is the main component of GDP and accounts for 61 percent of its total use, followed by gross fixed capital formation (30 percent) and government expenditure (17 percent). Exports of goods and services account for 50 percent of GDP while imports account for 62 percent, subtracting 12 percent of total GDP.

Latest Updates

Georgia’s gross domestic product grew by 8.3% year-on-year in the fourth quarter of 2024 from an 11% expansion in the previous three-month period. This marked the slowest economic growth since the fourth quarter of 2023, primarily due to a slowdown in output growth for construction (7.4% vs 30.9% in Q3), information and communication (29.7% vs 32.8%), transportation and storage (3.0% vs 9.8%) and manufacturing (1.1% vs 1.2%). In addition, output declined in wholesale and retail trade, including the repair of motor vehicles and motorcycles (-0.2% vs 11%). On the other hand, output growth accelerated in agriculture, forestry, and fishing (9.4% vs 2%), mining and quarrying (22.5% vs 13.5%), and public administration and defense, including compulsory social security (19.9% vs 14.7%). Additionally, output rebounded in electricity, gas, steam, and air conditioning supply (0.8% vs -13.6%) and it contracted at a slower pace for real estate activities (-2.3% vs -4.9%).