01.Jan .2022 16:00

Georgian Economy Grows 12% in November

Georgian Economy Grows 12% in November
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Georgia’s estimated real Gross Domestic Product (GDP) growth rate in November 2021 equaled to 12.0 percent YOY and 10.7 percent YOY in January-November 2021, the recent report of National Statistics Office of Georgia (GeoStat) revealed.

The estimated real growth in November 2021, compared to the same period of the previous year was observed in the following activities: Manufacturing, Transportation and storage, Arts, entertainment and recreation, Trade, Hotels and restaurants, Financial and Insurance activities.

A decline was registered in Construction.

A total of 4,441 new businesses were registered in November 2021, which is a 28.5% increase compared to the same period last year.

During the reporting period, Value Added Tax (VAT) payers’ turnover amounted to 9.9 billion GEL, a 32.6% increase year-on-year.

Exports of goods in November totalled 3, 822.9 million USD, increasing by 26.7%. Imports stood at US$ 8, 999.3 million, growing by 24.5% YOY.

In November 2021, revenue of the State Budget amounted to GEL 1, 137.2 mln, while expenses - GEL 1, 145.6 mln.