Georgian economy shrinks 13.5% in May 2020
Last month the estimated real growth compared to the same period of the previous year was posted negative in almost all activities, said Geostat. Photo: Nino Alavidze/Agenda.ge.
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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).
Last month the estimated real growth compared to the same period of the previous year was posted negative in almost all activities, said Geostat.
Executive director of the Geostat Gogita Todradze said that 'the most notable decrease' in May 2020 is connected to the sectors of construction, trade, transportation, hotels, restaurants, real-estate operations, arts, leisure, and recreation.
"The exports have decreased by about 30 per cent while the imports have diminished by 35 per cent. Up to 3,200 enterprises were registered in May which lags behind the previous year's figures by 33 per cent", said Todradze.
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.
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).
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).
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).
Estimated real gross domestic product (GDP) declined by 5.3 per cent in August 2020 year-on-year and by 5.6 per cent in the first eight months of 2020 year-on-year, show the latest data from the National Statistics Office of Georgia (Geostat).