Q1 of 2020: Georgian economy grows 2.2%
The World Bank projects the real GDP will decline in 2020 in Georgia and is estimated to be -4.8 per cent, with projected recovery of growth at 4 per cent in 2021. Photo: Nino Alavidze/Agenda.ge.
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Nominal gross domestic product (GDP) amounted to 11.06 billion GEL in the first quarter of 2020 in Georgia, while GDP grew by 2.2 per cent year-over-year and the GDP deflator increased by 6.1 per cent in the reporting period, show the latest data from the National Statistics Office of Georgia (Geostat).
Real growth was registered in the following activities:
- Human health and social work activities (13.5%)
- Arts, entertainment and recreation (16.2%)
- Manufacturing (5.7%)
- Construction (6.7%)
- Education (7.5%)
- Public administration and defence; compulsory social security (4.2%)
- Transportation and storage (4.7%)
- Information and communication (7.6%)
- Real estate activities (1.6%)
A decrease in the real value-added occurred in:
- Professional, scientific and technical activities (-13.1%)
- Financial and insurance activities (-6.1%)
- Electricity, gas, steam and air conditioning supply (-6.6%)
- The largest shares of GDP by activity were held by:
- Trade (13.5%)
- Real estate activities (12.9%) and manufacturing (9.5%)
- Agriculture, forestry and fishing (6.9%)
- Public administration and defence; compulsory social security (6.7%)
- Transportation and storage (6.6%)
- Construction (6.6%)
- Financial and insurance activities (5.4%)
The World Bank’s recent report Global Economic Prospects 2020 reads that the real GDP will decline in 2020 in Georgia and is estimated to be -4.8 per cent, with projected recovery of growth at 4 per cent in 2021.
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).
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.
The real gross domestic product (GDP) will decline in 2020 in Georgia and is estimated to be -4.8 per cent, with projected recovery of growth at 4 per cent in 2021, reads the World Bank’s recent report Global Economic Prospects 2020.
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 13.5 per cent in May 2020 year-on-year and by 5.4 per cent in the first five months of 2020 year-on-year, 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).
Estimated real gross domestic product (GDP) declined by 5.5 per cent in July 2020 year-on-year and by 5.8 per cent in the first seven months of 2020 year-on-year, show the latest data from the National Statistics Office of Georgia (Geostat).
Nominal gross domestic product (GDP) amounted to 11.21 billion GEL in the second quarter of 2020 in Georgia, while GDP declined by 12.3 per cent year-over-year and the GDP deflator also declined by 6.3 per cent in the reporting period, show the latest data from the National Statistics Office of Georgia (Geostat).
Nominal gross domestic product (GDP) amounted to 13.33 billion GEL in the third quarter of 2020 in Georgia, while real GDP declined by 5.6 per cent year-on-year and the GDP deflator increased by 5.9 per cent in the reporting period, show preliminary data from the National Statistics Office of Georgia.