BAKU, Azerbaijan, Dec.18
By Tamilla Mammadova – Trend:
The nominal Gross Domestic Product (GDP) amounted to 13.33 billion lari in 3Q2020, Trend reports with reference to the National Statistics Office of Georgia (Geostat).
The real GDP declined by 5.6 percent year-on-year, while the GDP deflator increased by 5.9 percent.
A decrease was registered in the following activities: accommodation and food service activities (-53.1 percent), transportation and storage (-25 percent), arts, entertainment and recreation (-32.4 percent), administrative and support service activities (-49 percent), professional, scientific and technical activities (-12.5 percent), electricity, gas, steam, and air conditioning supply (-11.5 percent), financial and insurance activities (-4.4 percent).
Real growth was registered in public administration and defense; compulsory social security (4.3 percent), human health and social work activities (6.6 percent), education (5.6 percent), mining and quarrying (14.7 percent), construction (2 percent), agriculture, forestry and fishing (1.5 percent).
In 3Q2020 the largest shares of GDP by activity were held by trade (15.1 percent), manufacturing (11.6 percent), followed by real estate activities (10.7 percent), construction (10.4 percent), agriculture, forestry, and fishing (9.3 percent), public administration and defense; compulsory social security (6.9 percent), transportation and storage (5.4 percent), financial and insurance activities (4.8 percent).
Calculation of the quarterly Gross Domestic Product is based on monthly and quarterly data. The data of annual surveys usually differ from the quarterly data. Therefore, arises the necessity of adjusting the quarterly GDP taking into account annual survey results.
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