Georgian economy shrinks 2.7% in March 2020
The estimated average real gross domestic product (GDP) growth for January-March equalled 1.5 percent year-on-year. Photo: Nino Alavidze/Agenda.ge.
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The Georgian economy has shrunk 2.7 per cent in March 2020, show the latest data from the National Statistics Office of Georgia (Geostat).
The estimated average real gross domestic product (GDP) growth for January-March equalled 1.5 percent year-on-year.
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Last month, estimated real growth compared to the same period of the previous year was posted in construction, information and communication, while a decrease was registered in accommodation and food service activities, transportation and storage, arts, entertainment and recreation, wholesale and retail trade, repair of motor vehicles and motorcycles, financial and insurance activities, electricity, gas, steam and air conditioning supply, manufacturing and real estate activities.
Executive Director of Geostat Gogita Todradze said that in March exports decreased by about 22 per cent while imports were down 13.4 per cent.
He also said that ‘the current situation in the country’ has had some impact on enterprise business registration and the number of companies registered in March fell 48 per cent.
The National Bank of Georgia said that following decline in domestic and external demand, Georgia's real economic growth will be around -4 per cent this year.
Georgian gross domestic product (GDP) grew 2.2 per cent in February 2020 compared to the same period of last year, show the latest data from the National Statistics Office of Georgia (Geostat).
The real growth of gross domestic product (GDP) in Georgia amounted to 5.1 per cent in 2019 and the deflator percentage change equalled 6.6 per cent year-on-year, show the preliminary data published by the National Statistics Office of Georgia.
Georgia’s external trade turnover amounted to $1.86 billion in January-February 2020, which is an increase of 6.1 per cent compared to the same period of last year, show preliminary data from the National Statistics Office of Georgia (Geostat).
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.
Estimated real gross domestic product (GDP) declined by 16.6 per cent in April 2020 year-on-year (y/y) and by 3.6 per cent in the first four months of 2020 y/y, show the latest data from the National Statistics Office of Georgia (Geostat).
Estimated real gross domestic product (GDP) declined by 7.7 per cent in June 2020 year-on-year and by 5.8 per cent in the first six months of 2020 year-on-year, show the latest data from the National Statistics Office of Georgia (Geostat).