The National Statistics Office of Georgia reported on Thursday that the nominal Gross Domestic Product (GDP) of the country reached ₾24.85 billion ($8.84 billion) in the third quarter. Real GDP grew by 11 percent year-on-year, accompanied by a 4.3 percent change in the GDP deflator.

During this period, notable contributions to real GDP growth stemmed from increases in value added across the following sectors:

• Construction (30.9 percent)
• Information and communication (32.8 percent)
• Wholesale and retail trade; repair of motor vehicles and motorcycles (11 percent)
• Education (35.6 percent)
• Financial and insurance services (22.9 percent)
• Public administration and defence; compulsory social security (14.7 percent)

Conversely, there was a decline in real value added in the following sectors:

• Real estate (-4.9 percent)
• Electricity, gas, steam, and air conditioning supply (-13.6 percent)

Several international financial institutions have recently revised their economic growth forecasts for Georgia.

Fitch Ratings, a global rating agency, projected the Georgian economy will expand by 8.7 percent in 2024, with growth slowing to 5.3 percent in 2025 and 5 percent in 2026. Inflation is forecast to average 2.1 percent in 2025 and 2.3 percent in 2026.

In its October World Economic Outlook, the International Monetary Fund (IMF) forecast a 7.6 percent growth for the Georgian economy in 2024, followed by 6 percent growth in 2025. Additionally, the IMF projected Georgia's GDP per capita would reach approximately $8,882.6 in 2024, with purchasing power parity equivalent to $27,363.4. By 2029, GDP per capita is expected to increase to $12,734.2, which would position Georgia at 52.5 percent of the average GDP per capita in European Union countries.

The World Bank's October forecast also indicated strong growth, predicting a 7.5 percent expansion in 2024—well above the potential growth rate—followed by 5.2 percent growth in 2025 and 5 percent in 2026.

In September, the European Bank for Reconstruction and Development raised Georgia's 2024 growth forecast by 1.3 percentage points to 6.5 percent, citing "strong growth" in manufacturing output.

The Asian Development Bank similarly revised its forecast, now projecting 7 percent GDP growth for Georgia in 2024, up from the earlier estimate of 5 percent made in April.