Page 15 - GEORptJul22

3.0 Macro Economy
Georgia - Main Macro 2017 2018 2019 2020 2021* Q1 2022 Indicators
GDP real growth (y/y, %)
4.8 4.8 5.0 -6.8 10.4 14.9
GDP per capita (at current 4,358.5 4,722.0 4,696.2 4,255.7 5,015.3 1,249.9 prices), USD
GDP per capita (at current prices), GEL
10,933.9 11,968 13,239.4 13,234. 16,154.1 3,891.6 1
GDP at current prices, (USD bn)
16.2 17.6 17.5 15.8 18.7 4.6
GDP at current prices, (GEL bn)
40.8 44.6 49.3 49.3 60.2 14.4
GDP deflator (y/y, %)
8.5 4.4 5.2 7.3 10.8 8.7
Source: Geostat
3.1 Macroeconomic overview
Georgia’s GDP expands 2.6% y/y in April
Georgia’s GDP expanded by 2.6% y/y in April, according to a data release from the National Statistics Office of Georgia. GDP growth was observed in transportation and storage, hotels and restaurants, electricity, gas, steam and air conditioning supply, financial and insurance activities, arts, entertainment and recreation and mining and quarrying.
Declines were seen in construction, manufacturing, professional services, scientific and technical activities and trade.
The Office also stated that 6,894 new businesses were registered in April, up 41.4% y/y. It also said exports of goods in January-April were valued at $1.5bn, up 32.8% y/y.
The World Bank is to up its economic growth forecast for Georgia to 5.5% from 2.5% (forecast issued in April), Sebastian Molineus, the World Bank’s regional
15 GEORGIA Country Report July 2022 www.intellinews.com