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Gross Domestic Product increases in Georgia

Business Materials 19 December 2019 11:36 (UTC +04:00)
Gross Domestic Product increases in Georgia

BAKU, Azerbaijan, December 19

By Tamilla Mammadova – Trend:

The nominal Gross Domestic Product (GDP) amounted to 13.4 billion lari ($4.6 billion) in Georgia in the third quarter of 2019, Trend reports with reference to National Statistical Office of Georgia (Geostat).

The real growth rate of GDP equaled to 5.8 percent year-over-year, while the GDP deflator increased by 7.2 percent.

Real growth was registered in construction (17.1 percent), wholesale and retail trade, repair of motor vehicles and motorcycles (9.8 percent), arts, entertainment and recreation (19.9 percent), manufacturing (4.9 percent), information and communication (18.2), real estate activities (3.8), human health and social work activities (8.1 percent), education (6.3 percent).

A decrease in the real value-added occurred in mining and quarrying (-2.2 percent), financial and insurance activities (-2.2 percent), public administration and defense, compulsory social security (-4 percent).

The largest shares of GDP by activity are held by trade (14.3 percent) and real estate activities (10.9 percent), manufacturing (10.8 percent), construction (10 percent).

This is followed by agriculture, forestry and fishing (7.7 percent), transportation and storage (6.4 percent), public administration and defense, compulsory social security (6.2 percent), accommodation and food service activities (5.2 percent).

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