Georgia's GDP up by nearly 5%

Business Materials 20 June 2019 14:15 (UTC +04:00)

Baku, Azerbaijan, June 20


The volume of gross domestic product (GDP) of Georgia in January-March 2019 increased by 4.9 percent compared to the same period last year, Trend reports with reference to the National Statistics Office of Georgia.

According to the data, in January-March nominal GDP amounted to 9 billion 745.2 million lari, which is 7.4 percent more than in January-March 2018.

GDP per capita increased by 7.6 percent - to 2,617.2 lari ($ 981).

In the sectoral structure of GDP, trade (16.8 percent) and industry (16.6 percent) took the largest share, followed by transport and communications (10.9 percent), public administration (8.1 percent), construction (8 percent), real estate (7.1 percent), health care and social assistance (7.1 percent), agriculture (6.4 percent).

The largest growth in the first quarter of 2019 was observed in the field of education (by 15.7 percent), the hotel and restaurant business (by 13.1 percent), in the transport sector (by 12.8 percent), communications (by 12.3 percent), in the sphere of health and social assistance (by 11.4 percent), real estate operations (by 11.1 percent), trade (by 6.7 percent).

The decline was recorded in the construction sector - by 9.6 percent, in the mining industry (by 3.8 percent), and agriculture (by 0.3 percent).

The government of Georgia predicts increase in GDP of the country in 2019 for 4.5 percent.

1 USD = 2. 79 GEL on June 20