Georgia’s GDP growth amounts to 2.3% in August

Georgia’s estimated real Gross Domestic Product (GDP) growth rate enjoyed a 2.3 percent increase year-on-year (y/y) in August 2015, says the country’s National Statistics Office, Geostat.

The country’s estimated real GDP growth for the first eight months of 2015 reached 2.8 percent y/y, noted Geostat. 

In August Georgia attracted more Foreign Direct Investments (FDIs) that before.

FDIs in Georgia for 2014 amounted to $1.758 billion USD – an 87 percent increase on 2013 figures.

The Geostat data showed a growing trend in FDIs from 2009 to 2011 before offshore investments decreased in 2012 and 2013. But by 2014 FDIs jumped significantly from $942 million in 2013 to $1.758 billion (in 2014).

The total sum of inflow to Georgia between 2009 and 2014 amounted to $2.873 billion while outflow reached $1.139 billion, noted Geostat.

The share of FDIs by major investor countries mostly came from the Netherlands (21 percent) followed by Azerbaijan (19 percent) and China (12 percent).

The largest share of FDIs was allocated to Georgia’s transport and communication sector, reaching $433.7 million. Following this was the construction sector with $316.6 million and the manufacturing sector with $205.4 million.