Net GDP growth equals 2.2%

Net GDP growth equals 2.2%
Net GDP growth equals 2.2%

Georgia's National Statistics Office reports that in the first quarter of 2020, the volume of Georgia's Gross Domestic Product totaled 11 063.8 mln GEL.

The GDP net growth equaled 2.2% compared to the 2019 first quarter, while the deflator increased by 6.1%.

Growth was observed in the following sectors: health and social activities - 13.5%; art, entertainment and leisure - 16.2%; manufacturing industry - 5.7%; construction - 6.7%; education - 7.5%; public administration and defense; compulsory social protection - 4.2%; transport and storage - 4.7%; information and communication - 7.6%; real estate activities - 1.6%.

The following sectors show a decrease: professional, scientific, and technical activities: -13.1%; financial and insurance activities: -6.1%; supply of electricity, gas, steam, and condensed air: -6.6%.

In the sectoral structure of GDP, the largest share among economic sectors falls on trade - 13.5%. The real estate ranks second with12.9%.

The following are the manufacturing industry (9.5%), agriculture, forestry and fishing (6.9%), government (6.7%), transportation and storage (6.6%), construction (6.6%), financial and insurance activities (5.4%).

The detailed GDP data will be available on November 16, 2020.

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