GDP real growth hits 7.0 percent in Georgia in 2011

Business Materials 21 March 2012 15:13 (UTC +04:00)

Georgia, Tbilisi, March 21 / Trend N. Kirtzkhalia /

GDP real annual growth hit 7.0 percent in Georgia in 2011 compared to the previous year, the head of the Georgian Statistics Agency said at a briefing on Tuesday.

Zaza Chelidze said th eGDP index for 2011 at current prices amounted to 24.229.1 million lari, or 16.8 percent more than the previous year.

The largest share in GDP sectoral structure falls to industry and trade - 17.3 percent, state governance - 11.7 percent, transport and communication - 10.6 percent, agriculture and fishing - 9.3 percent.

Significant growth was recorded in the following areas: financial intermediation - 24.3 percent, processing industry - 14.3 percent, production and distribution of electricity, natural gas and water - 8.9 percent, hotels and restaurants - 8.4 percent, communications - 8.0 percent, trade - 7.4 percent, and construction - 7.3 percent.

A decline was recorded in the mining industry - 6.5 percent.

Food and wine production, building materials, chemical products, ferro-alloys and other metallurgical products were developing in 2011.

It should be stressed that after a three-year-decline, GDP real growth (5.5 percent) in agriculture was recorded.

An increased demand for travel services was stipulated by GDP growth in hotels, restaurants and transportation services.