29.Apr .2021 12:30

Georgian Economy Was Up By 4% In March

Georgian Economy Was Up By 4% In March
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Estimated real Gross Domestic Product (GDP) growth rate in March 2021 equaled 4% y-o-y and average real GDP declined by 4.2% in first quarter of 2021 y-o-y, - show the preliminary data of Geostat.

Economic Growth by Months in Q1:

January - minus11.5%
February – minus 5.1%
March - growth of 4%
Total economic drop in Q1 – 4.1%

“In March 2021 the estimated real growth compared to the same period of the previous year was observed in the following activities: Financial and Insurance activities, Trade, Manufacturing, Real estate activities, Electricity, gas, steam and air conditioning supply, Transportation and storage, Information and communication. A decline was registered in Construction, Mining and quarrying and Arts, entertainment and recreation”, the document reads.

According to the report, VAT taxpayers’ turnover made up 7.9 billion GEL in March, which is 21.5% more compared to March 2020.