15.Nov .2021 15:00

Georgia's GDP 6.8% Down In 2020

Georgia's GDP 6.8% Down In 2020
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According to revised estimates, the Gross Domestic Product (GDP) of Georgia at current prices amounted to 49 266.7 million GEL in 2020. In 2020 compared to the previous year the real GDP declined by 6.8%, while the GDP deflator percentage change equaled 7.3%, GeoStat stated.

The largest shares of GDP by activity are held by wholesale and retail trade; repair of motor vehicles and motorcycles (14.8%) and real estate activities (11.7%), followed by manufacturing (10.7%), construction (8.7%), agriculture, forestry and fishing (8.3%), public administration and defence; compulsory social security (7.5%), transportation and storage (6.1%), financial and insurance activities (5.1%), education (4.9%).

Real growth was registered in agriculture, forestry and fishing (8.1%), education (8.6%), mining and quarrying (12.4%), public administration and defence; compulsory social security (2.3%), human health and social work activities (2.8%), information and communication (2.6).

Reduction in the real value-added was recorded in accommodation and food service activities (-44.9%), transportation and storage (-23.0 %), manufacturing (-7.1%), construction (-8.0 %), retail trade; repair of motor vehicles and motorcycles (-4.7%).