Georgia Economic Outlook
October 5, 2021The economy grew 29.9% year-on-year in the second quarter (Q1 2021: -4.5% yoy), marking the strongest result since our current records started in 2011. The upturn was broad-based, with the key manufacturing, and retail and wholesale trade sectors spearheading the expansion. That said, the reading was flattered by a significant base effect after GDP fell at a record pace in Q2 2020. Turning to Q3, the recovery seemingly lost momentum amid the reintroduction of some lockdown measures, which brought economic activity growth down to single digits in July–August. More positively, a quickening vaccine rollout and subsiding new Covid-19 cases bode well for the economy going into the final quarter of the year. Meanwhile, on 20 September, Moody’s affirmed Georgia's Ba2 credit rating and kept the outlook stable, citing an effective macroeconomic policy response to the pandemic-induced downturn.
Georgia Economic GrowthThe economy is set to recover this year as the release of pent-up demand props up domestic activity, while the external sector benefits from recovering foreign demand. In 2022, GDP growth should ease slightly but remain well above the regional average. That said, new Covid-19 variants and regional geopolitical uncertainty remain key risks to next year’s outlook. FocusEconomics panelists project GDP to expand 7.8% in 2021. In 2022 growth is seen moderating to 6.0%, which is unchanged from last month’s forecast.
Georgia Economy Data
5 years of Georgia economic forecasts for more than 30 economic indicators.
Get a sample report showing our regional, country and commodities data and analysis.
|Exchange Rate||2.86||0.0 %||Jan 01|
|Stock Market||0.1||0.55 %||Jan 07|
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.