BAKU, Azerbaijan, June 20
By Tamilla Mammadova – Trend:
Georgia’s economy shrank by 4.5 percent in 1Q2021, Trend reports via the National Statistical Office (Geostat).
In the first quarter of 2021 the volume of GDP at current prices amounted to 11.27 billion lari ($3.5 billion), while the decline in real GDP compared to the same period last year was 4.5 percent.
Gross domestic product deflator increased by 6.8 percent. According to the National Statistics Office of Georgia, the following sectors made a significant contribution to the decline in the first quarter of 2021: Accommodation and food delivery activities (-54 percent), Construction (-19.4 percent), Arts, entertainment, and leisure (-25.4 percent), Real estate activities (-6.4 percent), Transport and warehousing (-9 percent), Administrative and support service activities (-34 percent).
Growth was observed in the following sectors: financial and insurance activities (24 percent), mining (50.3 percent), health and social services (13.3 percent), wholesale and retail trade (3.9 percent), information and communication (16.8 percent).
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