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Georgian economy growth declines

Business Materials 22 March 2021 17:05 (UTC +04:00)
Georgian economy growth declines

BAKU, Azerbaijan, March 22

Tamilla Mammadova – Trend:

The nominal gross domestic product (GDP) amounted to 49.40 billion lari ($14.8 million) in 2020 in Georgia, up by 0.3 percent year-on-year, while the real growth of GDP reduced by 6.2 percent, Trend reports via the National Statistics Office of Georgia (Geostat).

The largest shares of GDP by activity were held by:

- Wholesale and retail trade; repair of motor vehicles and motorcycles (14.5 percent)
- Real estate activities (11.7 percent)
- Manufacturing (10.8 percent)
- Construction (8.9 percent)
- Agriculture, forestry and fishing (8.4 percent)
- Public administration and defense; compulsory social security (7.4 percent)
- Transportation and storage (5.9 percent)
- Financial and insurance activities (4.9 percent)

Real growth was registered in:

- Human health and social work activities (7.9 percent)
- Agriculture, forestry and fishing (3.6 percent)
- Education (3.1 percent)
- Public administration and defense; compulsory social security (1.8 percent)
- Other service activities (7.1 percent)

A decrease in the real value-added was recorded in:

- Accommodation and food service activities (-37.9 percent)
- Transportation and storage (-22.3 percent)
- Wholesale and retail trade; repair of motor vehicles and motorcycles (-5.6 percent)
- Arts, entertainment and recreation (-18.9 percent)
- Administrative and support service activities (-37.9 percent)
- Professional, scientific and technical activities (-18.4 percent)
- Construction (-4.7 percent)
- Financial and insurance activities (-5 percent).

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