BAKU, Azerbaijan, November 14. Georgia’s economy expanded strongly in 2024, with a 9.7% real increase in gross domestic product (GDP) compared with the previous year, the country's national statistical service said, Trend reports.
As such, in current prices, GDP reached 93 billion lari ($34.4 billion), up 15% year-on-year, with the GDP deflator rising 4.9%, the statistics bureau said.
Wholesale and retail trade, including vehicle repair, accounted for the largest share of GDP at 15.4%, followed by real estate activities (9.8%), manufacturing (9.7%), and construction (8.5%). Other key sectors included public administration and defense (6.8%), information and communication (6.4%), agriculture, forestry, and fishing (6.3%), transport and storage (6.3%), and education (5.6%).
Significant contributions to growth came from information and communication (+24.6%), education (+28.2%), public administration and defense (+15.5%), agriculture (+13.5%), construction (+12.2%), and transport and storage (+11.2%). Trade and vehicle repair added 9.3%. Conversely, the electricity, gas, steam, and air conditioning supply sector contracted 10.5%.