Real Gross Domestic Product declines in Georgia
BAKU, Azerbaijan, Sept.18
By Tamilla Mammadova – Trend:
The nominal GDP amounted to 11.2 billion in the second quarter of 2020 in Georgia, Trend reports with reference to the National Statistics Office of Georgia (Geostat).
The real Gross Domestic Product (GDP) declined by 12.3 percent year-on-year, while the GDP deflator increased by 6.3 percent.
A decrease in the real value-added was registered in the following activities: wholesale and retail trade; repair of motor vehicles and motorcycles (-13.2 percent), construction (-24.5 percent), accommodation and food service activities (-40 percent), transportation and storage (-22.6 percent), manufacturing (-12.1 percent), professional, scientific and technical activities (-28.8 percent), financial and insurance activities (-15.5 percent), administrative and support service activities (-54.7 percent), arts, entertainment and recreation (-24.1 percent).
Real growth occurred in human health and social work activities (14.3 percent), education (11.7 percent), agriculture, forestry, and fishing (4.7 percent), mining and quarrying (6.4 percent).
The largest shares of GDP by activity are held by trade (14.6 percent), real estate activities (12.7 percent) and agriculture, forestry and fishing (10.2 percent), followed by manufacturing (9.9 percent), public administration and defense; compulsory social security (7.5 percent), construction (6.8 percent), transportation and storage (6.1 percent), education (5.6 percent).
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