In Q1 2018 the real growth rate of Gross Domestic Product (GDP) amounted to 5.3 percent year-on-year, while the GDP deflator increased by 4.3 percent. The nominal GDP totaled GEL 9 150.2 million.
Real growth was registered in the following activities: Real Estate, Renting and Business activities (13.4
percent), Other Community, Social and Personal Service activities (13.4 percent), Mining and Quarrying
(11.4 percent), Hotels and Restaurants (10.9 percent), Electricity, Gas and Water Supply (10.0 percent),
Financial Intermediation (9.1 percent), Construction (8.7 percent), Manufacturing (6.6 percent),
Education (5.2 percent), Wholesale and Retail Trade; Repair of Motor Vehicles, Motorcycles and
Personal and Household Goods (5.1 percent).
A decrease in the real value-added occurred in Processing of Products by Households (-3.0 percent),
Agriculture, Hunting and Forestry; Fishing (-2.2 percent).
The largest shares of GDP by activity are held by Trade services (16.9 percent) and Industry (16.6
percent), followed by Transport and Communication (10.3 percent), Construction (8.9 percent), Public
Administration (7.9 percent), Agriculture, Hunting and Forestry; Fishing (7.5 percent) Real Estate,
Renting and Business Activities (6.7 percent), Health and Social work (6.7 percent).
Calculation of the quarterly Gross Domestic Product is based on a monthly and quarterly data.
Therefore, arises necessity to adjust the GDP taking into account annual data. The data of annual
surveys usually differ from the quarterly data.
Until receiving annual data, the annually adjusted figures for the previous year are used in quarterly
calculations. For example, preliminary data for 2017 are used for the initial GDP calculations for the first
and the second quarters of 2018. In November 2018 GDP figures for Q1 and Q2 of 2018 will be adjusted
based on the annually finalized data of 2017. Annual and quarterly GDP figures for 2018 will be finalized
by the end of November 2019 when the annual data for 2018 become available.