TBILISI, Jan 31 (Reuters) - Georgia's economy expanded by 4.8 percent year-on-year in 2017, preliminary official data showed on Wednesday, up from 2.2 percent in 2016.
Economic growth accelerated thanks to higher exports and remittances from abroad. The highest growth was registered in the processing industry, services and real estate operations.
In December alone, gross domestic product grew by 4.7 percent after expanding 3.7 percent in November. In December a year ago, GDP grew by 0.3 percent.
The former Soviet republic, through which pipelines carry Caspian oil and gas to Europe, is recovering from a decline in exports and a plunge in the currencies of its main trading partners, which have depressed economic growth in recent years.
The International Monetary Fund said in October that itexpected Georgia's economy to grow 4.3 percent in 2017, up from a previous forecast of 3.5 percent.
(Reporting by Margarita Antidze; Editing by Catherine Evans)
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