Georgian economy grows 7.1% in the second quarter of 2022

The Georgian economy grew by 7.1 percent in the second quarter of 2022 year-on-year, while the gross domestic product deflator percentage change equalled to 8.2 percent, the latest data from the National Statistics Office of Georgia show. 

Geostat also said that the nominal GDP amounted to ₾17.97 billion (about $6.37 bln).

Significant contributions to the real GDP growth in Q2 2022 was related to increase of value-added of the following activities: 

• Electricity, gas, steam and air conditioning supply (75.9%)
• Transportation and storage (18.6%)
• Information and communication (27.7%)
• Agriculture, forestry and fishing (10.9%)
• Education (12%) 
• Wholesale and retail trade (3%)

At the same time, a decrease in the real value-added occurred in:

• Human health and social work activities (-12.7%)
• Real estate activities (-2.7%)
• Construction (-3.2%)

The largest share in GDP by activity was held by:

• Trade (16.5%)
• Manufacturing (10.9%)
• Real estate activities (10%)
• Agriculture, forestry and fishing (8.3%)
• Construction (7.6%)
• Transportation and storage (6.5%)
• Public administration (6%)
• Arts, entertainment and recreation (4.8%)

Geostat noted that the revised GDP data will be published on November 15, 2022.