Georgian economy grew 10.1% in 2022 - National Statistics Office
The nominal gross domestic product of Georgia amounted to ₾71.75 billion ($27.87bln) in 2022, marking a 10.1 percent real GDP growth year-on-year. Photo: Nino Alavidze/Agenda.ge
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The nominal gross domestic product of Georgia amounted to ₾71.75 billion ($27.87bln) in 2022, marking a 10.1 percent real GDP growth year-on-year, data published by the National Statistics Office of Georgia on Tuesday shows.
The release of figures also showed a 19.6 percent year-on-year increase of GDP and 8.6 percent GDP deflator percentage change.
The largest shares in GDP by activity were displayed by:
- Wholesale and retail trade; repair of motor vehicles and motorcycles (15.2 percent)
- Manufacturing (11.1 percent)
- Real estate activities (9.9 percent)
- Construction (8 percent)
- Agriculture, forestry and fishing (7 percent)
- Transportation and storage (6.5 percent)
- Public administration and defence; compulsory social security (6.4 percent)
- Financial and insurance activities (4.9 percent)
- Information and communication (4.7 percent)
Real growth was registered in:
- Transportation and storage (28.4 percent)
- Information and communication (49.9 percent)
- Electricity, gas, steam and air conditioning supply (38.9 percent)
- Construction (14.8 percent)
- Wholesale and retail trade; repair of motor vehicles and motorcycles (6.1 percent)
- Manufacturing (7.8 percent)
- Arts, entertainment and recreation (17.3 percent)
- Accommodation and food service activities (16.7 percent)
- Mining and quarrying (22.8 percent)
The Office also said decreases in the real value-added had been recorded in real estate (-4.8 percent), human health and social work (-5.7 percent) and professional, scientific and technical work (-2.4 percent).
Georgian Finance Minister Lasha Khutsishvili on Monday said the country’s economy had grown by 10 percent in the first 11 months of 2022, with the rate expected to be maintained in the final figures of the year.
The Georgian economy is forecast to grow 5.2 percent in 2023 and 4.6 percent in 2024, the World Economic Situation and Prospects report by the United Nations said on Thursday.
Georgian Prime Minister Irakli Garibashvili on Sunday told Imedi TV the "patriotic team" of the Government had brought "a lot of benefits" to Georgia “despite challenges”, in comments about its performance in the economy and infrastructure and criticism of the domestic opposition.
Georgia’s gross domestic product per capita will reach $8,000 in 2023 while the current year is on track to close with 10 percent economic growth, Prime Minister Irakli Garibashvili said on Tuesday as part of his end-of-year summary of the Government’s work.
Georgian Finance Minister Lasha Khutsishvili on Thursday told the Parliament he was expecting maintenance of “positive dynamics” of economic growth in the country and even higher figures this year.
Georgian Finance Minister Lasha Khutsishvili on Thursday told the country’s Parliament financial authorities were working on harmonising the domestic legislation with the European Union and ensuring tax transparency through international agreements.
The Georgian economy grew 5.8 percent in February and 7.1 percent in the first two months of 2023, data published by the National Statistics Office of Georgia on Friday shows.
The Georgian economy grew 7.2 percent in the first quarter of 2023 and 7.3 percent in March, the latest data for the gross domestic product by the National Statistics Office of Georgia on Friday shows.
The National Statistics Office of Georgia on Wednesday published adjusted data of the gross domestic product growth of 2022 that showed a 10.4 percent growth for the country’s economy last year.