NEWS

January-August 2017: Georgia’s economy grows 4.7%

The Netherlands was Georgia's largest investor in 2014, with $331 million USD. Photo by N. Alavidze / Agenda.ge.

Agenda.ge, 29 Sep 2017 - 12:14, Tbilisi,Georgia

Georgia experienced 4.7 percent economic growth in the first eight months of 2017, show the latest data from the National Statistics Office of Georgia (Geostat).

Meanwhile, the estimated real Gross Domestic Product (GDP) growth rate amounted to 4.3 percent year-on-year in August 2017.

Georgia’s Ministry of Economy announced that real GDP growth was observed in the following industries:

Hotels and restaurants - 18.5 percent growth
Real estate operations - 7.8 percent growth
Manufacturing - 6.9 percent growth

As the Ministry explained in August 2017 economic growth was mainly driven by increased external trade and export growth of products from the following sectors:

Ferroalloys - 134 percent growth
Nitrogenous fertilisers - 84 percent growth
Medicines - 65 percent growth
Wine -58 percent growth
Alcoholic beverages -29 percent growth
Mineral waters - 23 percent growth

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