Georgian economy declines 11.5% in Jan 2021
Growth was registered in information and communication, financial and insurance activities. Photo: Nino Alavidze/Agenda.ge.
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Estimated real gross domestic product (GDP) declined by 11.5% in January 2021 year-on-year, show the latest data from the National Statistics Office of Georgia (Geostat).
Last month the following industries of the economy posted negative growth compared to the same period of the previous year:
- Construction
- Transportation and storage
- Manufacturing
- Accommodation and food service activities
- Arts, entertainment and recreation
- Real estate activities
- Electricity, gas, steam and air conditioning supply
- Wholesale and retail trade
- Repair of motor vehicles and motorcycles
Growth was registered in information and communication, financial and insurance activities.
Estimated real gross domestic product (GDP) declined by 7.9% in December 2020 year-on-year and by 6.1% in 2020 year-on-year, show the latest data from the National Statistics Office of Georgia (Geostat).
Estimated real gross domestic product (GDP) declined by 7.7 per cent in November 2020 year-on-year, and by 5.9 per cent in the first eleven months of 2020, show the latest data from the National Statistics Office of Georgia.
Nominal gross domestic product (GDP) amounted to 13.33 billion GEL in the third quarter of 2020 in Georgia, while real GDP declined by 5.6 per cent year-on-year and the GDP deflator increased by 5.9 per cent in the reporting period, show preliminary data from the National Statistics Office of Georgia.
Estimated real gross domestic product (GDP) declined by 3.9 per cent in October 2020 year-on-year, and by 5.1 per cent in the first ten months of 2020, show the latest data from the National Statistics Office of Georgia (Geostat).
Georgia has reported 373 new cases of coronavirus after conducting 34,933 tests over the last 24 hours.
Standard & Poor's (S&P) Global Ratings has affirmed Georgia’s long- and short-term foreign and local currency sovereign credit ratings at 'BB/B'. S&P has meanwhile revised its outlook from stable to negative. S&P reported yesterday that 'the negative outlook reflects risks to Georgia's ability to generate adequate foreign exchange (FX) earnings to service its sizable external liabilities over our forecast horizon'.
A state commission will be set up to work on a long-term economic development plan, announces Georgian Prime Minister Irakli Garibashvili.
The nominal gross domestic product (GDP) amounted to 49.40 billion GEL in 2020, up by 0.3% year-on-year, while the real growth of GDP reduced by 6.2%, show preliminary data from the National Statistics Office of Georgia.
The estimated real gross domestic product (GDP) of Georgia declined by 5.1% in February 2021 year-on-year and by 8.3% in January-February of 2021 year-on-year, show preliminary data from the National Statistics Office of Georgia (Geostat).