Georgian economy grows 5.8% in August 2019

Georgian GDP has increased 5.8 per cent in August 2019 compared to the same period of last year, show the latest data from the National Statistics Office of Georgia (Geostat).

Geostat reports that GDP has grown in January-August 2019 by 5 per cent year on year (y/y).

In August 2019 the estimated real growth compared to the same period of the previous year occurred in the following sectors: construction, transport, other community, social and personal service activities, trade, manufacturing, hotels and restaurants.

A decrease was registered in mining and quarrying and in utilities. 

In January-August 2019, the value of exports increased by 12.4 per cent and reached $2.4 billion, while imports decreased 4.4 per cent and amounted to $5.7 billion, said Geostat.

Georgia’s external trade turnover increased to $8.13 billion (0.01%) in January-August 2019.

Geostat data show that 3,329 new enterprises were registered in August, which is a 24.1 per cent decrease compared to August 2018.