ECONOMY

Georgian economy grows 5.8% in Q3 of 2019

19.12.19 13:25


The real gross domestic product (GDP) growth rate in Georgia in the third quarter (Q3) of 2019 came out to 5.8 percent year on year (y/y) shows the preliminary data from the National Statistics Office of Georgia (Geostat).

 

In Q3 of 2019, the nominal GDP amounted to GEL 13.4 billion GEL ($4.61 bln/€4.14 bln).

 

Leading activities where the real growth was registered were the following:


Arts, entertainment and recreation - 19.9 percent
Information and communication - 18.2 percent
Construction - 17.1 per cent 
A decrease was registered in the following activities:
Public administration and defense; compulsory social security - 4 percent
Mining and quarrying – 2.2 percent
Financial and insurance activities – 2.2 percent
The leading activities which account for the largest shares of GDP were the following:
Trade – 14.3 percent
Real estate – 10.9 percent
Manufacturing – 10.8 percent


The World Bank forecasts 4.6 percent of economic growth in Georgia in 2019, 4.8 percent in 2020 and 5 percent in 2021, shows Europe and Central Asia Economic Update of the World Bank.

 

The Asian Development Bank has also published its economic forecast recently, which said that the Georgian economy will grow by 5 percent in 2019 and by 4.9 percent in 2020.

 

 

 

 

source: AGENDA

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