Georgia's economy constructed by 7.9% in December 2020 due to a new lockdown, forcing thousands of businesses and services to close. The decline also affected the results of 2020 as a whole and Georgia's gross domestic product fell by 6.1%.
According to the quarters, there were such results in Georgia in 2020:
Quarter 1 - 2.3% growth;
Quarter 2 - 13.2% drop;
Quarter 3 - 5.6% drop;
Quarter 4 - 6.5% drop.
“In December 2020 the estimated real growth compared to the same period of the previous year was posted negative in the following activities: Accommodation and food service activities, Construction, Arts, entertainment and recreation, Manufacturing, Transportation and storage, Wholesale and retail trade; repair of motor vehicles and motorcycles.
Growth was registered in Financial and Insurance activities, Water supply; sewerage, waste management and remediation activities, Information and communication, Mining and quarrying”, - Geostat report reads.
According to the document, VAT taxpayers’ turnover amounted to 8.55 billion GEL for the last month, which is 5.1% y-o-y. The number of newly registered enterprises is 6.3% down in December. Exports were down by 12% in January-December.
