BAKU, Azerbaijan, Jan. 29
By Tamilla Mammadova – Trend:
Georgia's economy constructed by 7.9 percent in December 2020 due to a new lockdown, forcing thousands of businesses and services to close, Trend reports via the National Statistics Office of Georgia (Geostat).
The decline also affected the results of 2020 as a whole and Georgia's gross domestic product fell by 6.1 percent.
According to the quarters, there were such results in Georgia in 2020:
Quarter 1 - 2.3 percent growth;
Quarter 2 - 13.2 percent drop;
Quarter 3 - 5.6 percent drop;
Quarter 4 - 6.5 percent drop.
“In December 2020 the estimated real growth compared to the same period of the previous year was posted negative in the following activities: Accommodation and food service activities, Construction, Arts, entertainment and recreation, Manufacturing, Transportation and storage, Wholesale and retail trade; repair of motor vehicles and motorcycles”, Geostat report reads.
Growth was registered in Financial and Insurance activities, Water supply; sewerage, waste management and remediation activities, Information and communication, Mining and quarrying.
According to the document, VAT taxpayers’ turnover amounted to 8.55 billion lari ($2.6 billion) for the last month, which is 5.1 percent year-on-year. The number of newly registered enterprises is 6.3 percent down in December. Exports were down by 12 percent from January through December.
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