Georgia’s economy shrank  11.5% in January

Georgia’s economy shrank 11.5% in January

access_time2021-02-26 12:17:58


 

According to preliminary estimates, the Georgian economy shrank by 11.5% in January 2021, -  Gogita Todradze, Executive Director of the National Statistics Office of Georgia, says.

 

"According to the declared data of VAT-paying enterprises, in January 2021, compared to the corresponding period of the previous year, we are facing an 11.5% decline in the Georgian economy," -  Gogita Todradze notes.


 

Compared to the corresponding period of the previous year, in January a decline was observed in the  construction, transport and warehousing, manufacturing, accommodation, arts, entertainment and recreation, real estate activities, electricity, gas, steam and air conditioning supply , wholesale and retail trade; repair of cars and motorcycles sectors. At the same time, growth was observed in the areas of information and communication, financial and insurance activities.

 

In addition, the number of newly registered enterprises amounted to 2,835,that  is 23.3% less than in the same period of the previous  year.


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