Second Quarter GDP Growth Rate Raised to 5.5%

According to preliminary data of Geostat, the Gross Domestic Product (GDP) of Georgia in the second quarter (Q2) of 2018 amounted to GEL 10,168.4M. Compared to the same period of the previous year, real GDP growth was 5.5%, while the deflator increased by 4.8%. The average real GDP growth for the first six months of 2018 was 5.4%, compared to the figure last year.

According to Geostat, growth was observed in the following sectors: Financial Intermediation (22%), Other Community, Social and Personal Service activities (17.9%), rReal Estate, Renting and Business Activities (13.8%), Wholesale and Retail Trade; Repair of Motor Vehicles, Motorcy-cles and Personal and Household Goods (10.5%), Manufacturing (8.5%), Mining and Quarrying (8.1%), Transport (8.0%), Education (4.8%), Hotels and Restaurants (4.5%).

On the other hand, a negative trend affected the following industries: Construction (-7.1%) and Agriculture, Hunting and Forestry; Fishing (-3.3%).

The largest shares of GDP by activity are seggregated among Industry (17.1%) and Trade services (17%), followed by Transport and Communication (9.9%), Agriculture, Hunting and Forestry; Fishing (8.5%), Construction (8.3%), Public administration (7.9%) Real Estate, Renting and Business Activities (6.7%), Health and Social work (5.9%).

By Anna Zhvania

Source: Geostat

19 September 2018 21:01