Georgian Economy Grows 5.8% in Q3 of 2019

The real gross domestic product (GDP) growth rate in Georgia in the third quarter (Q3) of 2019 came out to 5.8% year on year, (y/y) shows the preliminary data from the National Statistics Office of Georgia (Geostat).

In Q3 of 2019, the nominal GDP amounted to GEL 13.4 billion GEL ($4.61 bln/€4.14 bln).

Leading activities where the real growth was registered were the following:

• Arts, entertainment and recreation - 19.9%
• Information and communication - 18.2%
• Construction - 17.1% 

A decrease was registered in the following activities:

• Public administration and defense; compulsory social security - 4%
• Mining and quarrying – 2.2%
• Financial and insurance activities – 2.2%

The leading activities which account for the largest shares of GDP were the following:

• Trade – 14.3%
• Real estate – 10.9%
• Manufacturing – 10.8%

The Asian Development Bank has also published its economic forecast recently, saying that the Georgian economy will grow by 5% in 2019 and by 4.9% in 2020.

By Ana Dumbadze