Georgia GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Georgia expanded 7.10 percent in the fourth quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Georgia is reported by the National Statistics Office of Georgia. GDP Annual Growth Rate in Georgia averaged 4.32 Percent from 2006 until 2013, reaching an all time high of 12.30 Percent in the fourth quarter of 2007 and a record low of -9 Percent in the second quarter of 2009. Georgia's most important sectors of the economy are agriculture, mining (manganese and copper) and manufacturing. Since the change of the government in 2003, the country has embarked on reforms towards liberalization of the economy. As a result, in recent years Georgia’s economy has been steady growing. Due to strained relations with Russia arising from the 2008 war, Georgia has invested in energy independence by focusing on hydropower. Georgia is also attempting to use its key geographical location to become a logistics hub. This page provides - Georgia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-19

Actual Previous Highest Lowest Forecast Dates Unit Frequency
7.10 1.40 12.30 -9.00 -0.53 | 2014/03 2006 - 2013 Percent Quarterly

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Georgia GDP Annual Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-06-05 10:00 AM Georgia
GDP Growth Rate YoY
Q1 2013 2.4% 2.8%
2013-09-18 08:50 AM Georgia
GDP Growth Rate YoY
Q2 2013 1.5% 2.4% 2.14%
2013-12-19 09:40 AM Georgia
GDP Growth Rate YoY
Q3 2013 1.4% 1.5% -0.87%
2014-03-20 09:40 AM Georgia
GDP Growth Rate YoY
Q4 2013 7.1% 1.4% 1.7%
2014-06-19 10:40 AM Georgia
GDP Growth Rate YoY
Q1 2014 7.1% -0.53%
2014-09-18 10:40 AM Georgia
GDP Growth Rate YoY
Q2 2014 3.73%
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GDP Last Previous Highest Lowest Forecast Unit
GDP 15.83 2012-12-31 14.44 15.83 2.51 17.42 2013-12-31 USD Billion [+]
GDP Annual Growth Rate 7.10 2013-12-31 1.40 12.30 -9.00 -0.53 2014-03-31 Percent [+]
GDP Constant Prices 4221.00 2013-11-15 3897.80 28432.80 1806.60 3946.77 2014-03-31 GEL Million [+]
GDP per capita 2070.85 2012-12-31 1966.01 3315.17 679.80 2152.48 2013-12-31 USD [+]
GDP per capita PPP 5086.33 2012-12-31 4828.82 8142.58 1669.70 5344.82 2013-12-31 USD [+]
Gross Fixed Capital Formation 1698.90 2013-11-15 1665.60 1874.50 151.50 1801.85 2014-03-31 GEL Million [+]
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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


RELATED NEWS

Georgia Government Spending at 1394.90 GEL Million  
Government Spending in Georgia increased to 1394.90 GEL Million in the fourth quarter of 2013 from 1060.90 GEL Million in the third quarter of 2013. Government Spending in Georgia is reported by the National Statistics Office of Georgia.
Georgia Gross Fixed Capital Formation at 1698.90 GEL Million  
Gross Fixed Capital Formation in Georgia increased to 1698.90 GEL Million in the fourth quarter of 2013 from 1665.60 GEL Million in the third quarter of 2013. Gross Fixed Capital Formation in Georgia is reported by the National Statistics Office of Georgia.
Georgia Average Monthly Wages at 875.46 GEL  
Wages in Georgia increased to 875.46 GEL in the fourth quarter of 2013 from 799.83 GEL in the third quarter of 2013. Wages in Georgia is reported by the National Statistics Office of Georgia.
Georgia Changes in Inventories at 300.70 GEL Million  
Changes in Inventories in Georgia increased to 300.70 GEL Million in the fourth quarter of 2013 from 140.90 GEL Million in the third quarter of 2013. Changes in Inventories in Georgia is reported by the National Statistics Office of Georgia.
Georgia Consumer Price Index (CPI) at 157.71 Index Points  
Consumer Price Index (CPI) in Georgia decreased to 157.71 Index Points in March of 2014 from 157.87 Index Points in February of 2014. Consumer Price Index (CPI) in Georgia is reported by the National Bank of Georgia.
Georgia Consumer Spending at 5356.30 GEL Million  
Consumer Spending in Georgia increased to 5356.30 GEL Million in the fourth quarter of 2013 from 4561.50 GEL Million in the third quarter of 2013. Consumer Spending in Georgia is reported by the National Statistics Office of Georgia.
Georgia Current Account at -426.55 USD Million  
Georgia recorded a Current Account deficit of 426.55 USD Million in the fourth quarter of 2013. Current Account in Georgia is reported by the National Bank of Georgia.
Georgia Employed Persons at 507.40 Thousand  
The number of employed persons in Georgia increased to 507.40 Thousand in the third quarter of 2013 from 503.50 Thousand in the second quarter of 2013. Employed Persons in Georgia is reported by the National Statistics Office of Georgia.
Georgia GDP Constant Prices at 4221.00 GEL Million  
GDP Constant Prices in Georgia increased to 4221 GEL Million in the fourth quarter of 2013 from 3897.80 GEL Million in the third quarter of 2013. GDP Constant Prices in Georgia is reported by the National Statistics Office of Georgia.
Georgia GDP Deflator at 99.35 Index Points  
GDP Deflator in Georgia increased to 99.35 Index Points in the fourth quarter of 2013 from 99.24 Index Points in the third quarter of 2013. GDP Deflator in Georgia is reported by the National Statistics Office of Georgia.
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