Economic growth in 2019 was higher than expected to make up 5.2%. According to the International Monetary Fund's estimations in early 2019, Georgia's growth was expected to be only 4.6%.
Economic growth befitted largely from foreign trade-export in 2019 reached record-breaking indicators. Notably, equally record-breaking has been export in January 2020. Tourist inflow and revenues from tourism are also on the rise.
In January 2020, the International Monetary Fund commended Georgia's ongoing economic processes and structural reforms. According to IMF, Georgia's economic growth remains stable and, according to preliminary estimations for 2020, will reach 4.3%. The IMF also says that inflation will reach the targeted indicator by the end of this year.
Economic growth in 2019 was quite diversified. Positive trends were present throughout the year in both production and service delivery. High real economic growth rates were evident in the areas of process manufacturing, transport, trade, hospitality, communications, and others.
Stable macroeconomic environment, effective reforms, and economic growth-oriented fiscal policy contribute to the competitiveness of the country's private sector and economic activity.