Geostat: In Q3 2020 the nominal GDP amounted to GEL 13 331.2 million. The real Gross Domestic Product (GDP) declined by 5.6 percent YoY, while the GDP deflator increased by 5.9 percent.
A decrease was registered in the following activities: Accommodation and food service activities (-53.1 percent), Transportation and storage (-25.0 percent), Arts, entertainment and recreation (-32.4 percent), Administrative and support service activities (-49.0 percent), Professional, scientific and technical activities (-12.5 percent), Electricity, gas, steam and air conditioning supply (-11.5 percent), Financial and insurance activities (-4.4 percent). Real growth was registered in Public administration and defence; compulsory social security (4.3 percent), Human health and social work activities (6.6 percent), Education (5.6 percent), Mining and quarrying (14.7 percent), Construction (2.0 percent), Agriculture, forestry and fishing (1.5 percent).
In Q3 2020 the largest shares of GDP by activity were held by Trade (15.1 percent), Manufacturing (11.6 percent), followed by Real estate activities (10.7 percent), Construction (10.4 percent), Agriculture, forestry, and fishing (9.3 percent), Public administration and defense; compulsory social security (6.9 percent), Transportation and storage (5.4 percent), Financial and insurance activities (4.8 percent).
Note: Calculation of the quarterly Gross Domestic Product is based on a monthly and quarterly data. The data of annual surveys usually differ from the quarterly data. Therefore, arises necessity of adjusting the quarterly GDP taking into account annual survey results. After receiving the annual survey results for the previous year, four quarters of the previous year are adjusted along with the first and the second quarters of the current year. Final revision of 2020 quarters data will be conducted in November 2021, after receiving the data of annual surveys for 2020.
