Georgian economy up in February 2020

Business Materials 31 March 2020 13:10 (UTC +04:00)
Georgian economy up in February 2020

BAKU, Azerbaijan, March 31

By Tamilla Mammadova – Trend:

The estimated real gross domestic product (GDP) growth rate in Georgia equaled 2.2 percent in February 2020 year-on-year, Trend reports referring to National Statistics Office of Georgia (Geostat).

The estimated average real GDP growth from January through February 2020 equaled 3.7 percent year-on-year.

In February 2020, the estimated real growth compared to the same period of the previous year was related to wholesale and retail trade, repair of motor vehicles and motorcycles, information and communication, real estate activities, accommodation and food service activities.

A decrease was registered in manufacturing, construction, transportation and storage.

Georgian external trade turnover increased to $1.85 billion (by 6 percent higher year-on-year) in February 2020.

Last month, the value of exports increased by 4.5 percent and reached $526.3 million year-on-year, while imports increased by 6.7 percent and amounted to $1.32 billion.

Geostat data show that 3,969 new enterprises were registered in February 2020, which is 8.9-percent decrease compared to February 2019.


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