Jan 2020: Georgian economy grows 5.1%

In Georgia the estimated real gross domestic product (GDP) growth rate in January 2020 equalled 5.1 per cent year-on-year, announces the National Statistics Office of Georgia.

• IMF forecasts 4.3% growth for Georgian economy in 2020

Last month estimated real growth compared to the same period of the previous year was posted in the following activities:

• Transport and storage
• Construction
• Real estate activities
• Accommodation and food service activities
• Wholesale and retail trade; repair of motor vehicles and motorcycles
• Information and communication
• Electricity, gas, steam and air conditioning supply
• Manufacturing

A decrease was registered in mining and quarrying.

Georgian external trade turnover increased to $882.5 million (5.7 per cent higher y/y) in January-2020.

Last month the value of exports increased 10 per cent and reached $262.6 million, while imports also increased four per cent and amounted to $619.8 million.

Geostat data show that 3,698 new enterprises were registered in January 2020, which is a 14.6 per cent increase compared to January 2019.