2016 data: Real growth of GDP amounted to 2.8% in Georgia

The annually adjusted Gross Domestic Product (GDP) of Georgia at current prices in 2016 totalled 34.02 billion GEL, up by 7.2 percent year-on-year (y/y), show the latest data from the National Statistics Office of Georgia (Geostat).

In the same period the real growth of the GDP amounted to 2.8 percent and the deflator percentage change equalled 4.2 percent y/y.

Today, Geostat published adjusted figures of GDP growth in Georgia in 2016, which said the largest shares of GDP by activity were held by:

• Trade services (17 percent)
• Industry (16.4 percent)
• Transport and communication services (9.9 percent)
• Public administration (9.1 percent)
• Agriculture, forestry and fishing (9.0 percent)
• Construction (8.5 percent)
• Real estate, renting and business activities (6.7 percent)
• Health and social work (6.1 percent)

Real growth was registered in:

• Hotels and Restaurants (12.9 percent)
• Construction (10 percent)
• Financial intermediation (9.7 percent)
• Mining and Quarrying (9.5 percent)
• Real estate, renting and business activities (5.9 percent)
• Electricity, gas and water supply (4.9 percent)

Meanwhile, a decrease in the real value-added was recorded in transport and communication (-3 and -3.1 percent, respectively), said Geostat.