Geostat published results of economic growth in March, 2020. According to the report, economic decline of 2.7% has been noted in the previous month. One of the sectors, where turnover is declined is retail and wholesale trade, including car trade. Vehicle re-export has decreased by 38% in March.
Company Caucasus Business Group declares, that decline is not fixed at this stage, because orders are made 2-3 months ago, so reduction will be reflected in the second quarter.
Davit Gulashvili, Deputy General Director of Caucasus Business Group, says they are optimistic that if there is a reduction in the second quarter, demand will accumulate during this time and data will improve in the third and fourth quarters.
"Large restrictions were imposed in Georgia through March, which continued in April. The Rustavi Vehicle Market has also been closed, which had a significant impact on the car business. Therefore, it is expected that the parameters of the auto import sector will decrease in the second quarter of 2020. But in the meantime the demand will accumulate and the growth will start from Q3-4, ”said Davit Gulashvili.
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