Georgia’s economy shrank 12.3 percent in Q2, 2020

Georgia’s economy shrank 12.3 percent in Q2, 2020

access_time2020-09-18 12:38:36


According to the National Statistical Office, in the second quarter of 2020, the GDP at current prices amounted to GEL 11 210.0 million. Real GDP fell 12.3 percent year-on-year, while the deflator rose 6.3 percent.

Sakstat reports that  the decline was observed in the following sectors: wholesale and retail trade; repair of motor vehicles and motorcycles (-13.2 per cent), construction (-24.5 per cent), accommodation and catering (-40.0 per cent), transport and warehousing (-22.6 per cent), manufacturing (-12.1 per cent), professional, scientific and technical activities (-28.8 percent), financial and insurance activities (-15.5 percent), administrative and support services (-54.7 percent), arts, entertainment and recreation (-24.1 percent).


Growth was observed in the following sectors: health and social services (14.3 percent), education (11.7 percent), agriculture, forestry and fisheries (4.7 percent), and mining (6.4 percent).

Sakstat says that trade (14.6 percent) and real estate activities (12.7 percent) accounted for the largest share of the GDP structure followed by agriculture, forestry and fisheries (10.2 percent), manufacturing (9.9 percent), State governance (7.5 percent), construction (6.8 percent), transport and warehousing (6.1 percent), education (5.6 percent).

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