Asia Regional Integration Center
Tracking Asian Integration
Georgia’s growth recovered strongly from the 6.8% contraction in 2020 to an estimated 10.6% growth in 2021. All major sectors did well with exceptions of construction and agriculture. On the supply side, services reversed its 8.1% contraction in 2020 to grow by 14.5%. Industry reversed a 6.6% drop in 2020 to expand by 6.2%. However, agriculture contracted by 2.5% due to pest damage and adverse weather. On the demand side, growth in consumption nearly doubled from 5.4% in 2020 to 9.0% as pandemic restrictions were lifted in the second half of the year. Growth is forecast to decline to 3.5% as the Russian Federation’s invasion of Ukraine slows trade and remittances. It is expected to recover somewhat to 5.0% in 2023 with some revival in demand—both domestic, fueled by faster credit growth, and external, with increased exports the result of structural reform to trade and connectivity.
Latest | Month-Ago | Year-Ago | |
---|---|---|---|
Headline Inflation Rate 1 | 5.3 (Mar23) | 8.2 | 11.8 |
Industrial/ Manufacturing Production Growth Rate 1 | 7.2 (Dec22) | 12.6 | |
Merchandise Export Growth 1 | 32.9 (Mar23) | 32.9 | 6.3 |
Exchange Rate Index 2 | 140.0 (Apr23) | 143.5 | 170.1 |
1 y-o-y, %. 2 Monthly average, January 2006 = 100, $/local currency. | |||
Source: CEIC database. |
Initiatives / FTAs
News
-
Macro News
26 items
-
RCI News
167 items
-
Opinions & Editorials
0 items
Publications
-
Economic Reports
10 items
-
Papers
22 items
-
ADB Books
0 items
-
ADB Working Paper Series0 items
on Regional Economic
Integration -
Studies and Research
0 items