Georgia’s economy grew by 25.8% y/y in May 2021, based on Geostat’s rapid estimates, after a 44.8% y/y growth in previous month. Notably, real GDP was also up by 8.8% compared to May 2019 level.
Overall, in 5M21, real growth was 11.5% y/y (+4.2% compared to 5M19). In May, growth was broad-based with economic activity up in manufacturing, financial and insurance, trade, real estate, hotels & restaurants, construction and transport sectors. Monthly rapid estimates are based on VAT turnover, fiscal and monetary statistics.
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