National Statistics Office of Georgia (Geostat) published preliminary data in regards to the economic growth in February 2019. According to Geostat, Economic growth has reached 4.6% in February.
The same data suggests that overall GDP of January-February amounts to 4.1% “Compared to the same period of previous year, the increase was noticed in the processing industry, trade, real estate operations and other fields of service sector. Decrease was noticed in the consutrction sector”, says Geostat.
According to the Executive Director of Geostat, Gogita Todradze, the increase in processing industry was due to higher production of food and drinks products. The rise in the capacity of chemical industry has also contributed to such increase.
“The increase is proven by the fact that there is a 31% rise in the export of natural grape wine, 36% rise in the export of mineral waters, 24% rise in the export of nitric fertilizers.”, stated Todradze
Todradze also added that the import of oil products increased by 13%, as for the import of natural gas – 12%. The re-exporting indicator in the trade sector amounted to 35%.
In regards to the decrease in construction sector, Todradze explained that it is connected with fewer amount of construction products.
