Georgia’s economy shrank by 4.5% in Q1

Georgia’s economy shrank by 4.5% in Q1

access_time2021-06-18 14:00:32


According to the preliminary data of the National Statistical Office, in the first quarter of 2021 the volume of GDP at current prices amounted to GEL 11 275.7 million, while the decline in real GDP compared to the same period last year was 4.5 percent.

Gross domestic product deflator increased by 6.8 percent. According to the National Statistics Office of Georgia, the following sectors made a significant contribution to the decline in the first quarter of 2021: Accommodation and food delivery activities (-54.0 percent), Construction (-19.4 percent), Arts, entertainment, and leisure (-25.4 percent), Real estate activities (-6.4 percent), Transport and warehousing (-9.0 percent), Administrative and support service activities (-34.0 percent).

Growth was observed in the following sectors: financial and insurance activities (24.0 percent), mining (50.3 percent), health and social services (13.3 percent), wholesale and retail trade (3.9 percent), information and communication (16.8 percent).


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