Real GDP growth was 5.2% y/y in September 2019
According to Geostat’s rapid estimates, Georgia’s economy grew by 5.2% y/y in September 2019, up from last year’s high base (5.6% y/y). In September, real growth was recorded in construction, transport, trade, manufacturing and hotels and restaurants sectors. Construction activity was supported by government infrastructure spending (up 86.1% y/y) as well as expansion in residential and other construction activities from private sector, tourism-related sectors benefited from rise in international arrivals, while trade sector growth was supported by increased demand in retail (food products, beverages and tobacco) as well as wholesale trade (natural gas, etc.). Meanwhile, real growth was down in mining and other community, social and personal service activities sectors (explained by reduced production of metals and reduced activity in casinos). 3Q19 real GDP growth was strong at 5.7% y/y (6.2% in July, 5.8% in August and 5.2% in September), bringing 9M19 growth figure at 5.0% y/y. Monthly rapid estimates are based on VAT turnover, fiscal and monetary statistics.
