Georgia’s GDP grows 8.5 % y/y in 2014

Georgia’s National Statistics Office, Geostat, has today released full-year information of the Gross Domestic Product (GDP) of Georgia in 2014.

As a result of annual adjustment, the 2014 GDP of Georgia (at current prices) totalled more than 29 billion GEL – an increase of 8.5 percent year-on-year (y/y) – said Geostat.

In the same period the real GDP growth amounted to 4.6 percent and the deflator increased by 3.8 percent y/y.

The largest share in the sectoral structure of GDP was held by trade services (17.5 percent) and industry (16.9 percent), followed by transport and communication services (10.4 percent), public administration (9.9 percent), agriculture, forestry and fishing (9.3 percent), construction (7.1 percent) and health and social work (6 percent).

Real growth was posted in construction (13.1 percent), financial intermediation (7 percent), real estate, renting and business activities (8.1 percent), hotels and restaurants (7.3 percent), trade (5.8 percent) and transport (5.8 percent).

A decrease in the real value-added was recorded in electricity, gas and water supply (2.4 percent).