GDP (annual) in Georgia

Gross Domestic Product (GDP) measures the value of all final goods and services produced in Georgia over a period. Published by the National Statistics Office (Geostat), it is the broadest gauge of the size and pace of the Georgian economy.

Geostat estimates it via the output, expenditure and income approaches, which must reconcile, and also publishes rapid monthly growth estimates. It is released in levels and as year-on-year (YoY) real growth.

It is the cyclical reference for a small, open economy underpinned by tourism, remittances and transit trade. Strong growth supports the lari and gives the National Bank of Georgia room to manoeuvre, while a slowdown would reflect the impact of regional shocks.

It is released with a lag and the rapid estimates are revised as data are consolidated, so the first figure is not final. The weight of tourism and remittances introduces seasonality and sensitivity to conditions in neighbouring countries.