• Geostat changed accounting methodology to a new Standard of National Accounting (SNA 2008), rebased GDP to year 2015 from year 2010 and recalculated GDP data from 2010 to 2018.
  •  Economy expands by 6.9% to GEL 33.9bn (US$ 14.9bn) in the base year and by 8.6% to GEL 44.6bn (US$ 17.6bn) in 2018 compared to old series.
  • Nominal GDP and per capita GDP are higher in new series vs. old series in every single year from 2010 to 2018.
  • Real GDP growth rate still strong at 4.8% in 2018; averaged 4.7% during 2011-18. Downward revision to the real growth rate recorded only in 2014: 4.4% in new series vs. 4.6% in old series.
  • Georgia’s GDP per person increased to US$ 4,722 from US$ 4,346 in 2018.
  • Expansion in nominal GDP improves debt indicators, creating a fresh borrowing space.