Geostat shares data on nominal GDP in Georgia

By Trend

Nominal gross domestic product (GDP) amounted to 15.91 billion lari in the second quarter of 2021 in Georgia, Trend reports via the National Statistics Office of Georgia (Geostat).

As reported, the real GDP grew by 29.9 percent year-on-year and the GDP deflator increased by 10.3 percent in the reporting period.

Geostat said that significant contributions to the real GDP growth in 2Q2021 are related to an increase in the value-added of the following activities:

Wholesale and retail trade (53.9 percent)
Manufacturing (42.3 percent)
Arts, entertainment, and recreation (133.6 percent)
Transportation and storage (47 percent)
Construction (27.3 percent)
Accommodation and food service activities (75.5 percent)
Financial and insurance activities (45.5 percent)

A decrease in the real value-added occurred in:

Agriculture, forestry, and fishing (-2.3 percent)
Education (-1.4 percent)

The largest shares of GDP by activity were held by:

Trade (15.9 percent)
Manufacturing (11.6 percent)
Real estate activities (9.6 percent)
Construction (8.6 percent)
Agriculture, forestry, and fishing (7.8 percent)
Transportation and storage (6.3 percent)
Public administration (5.8 percent)
Arts, entertainment, and recreation (5.4 percent).

The International Monetary Fund (IMF) projects the Georgian economy to grow 7.7 percent in 2021, a significant upgrade from just a few months ago, which implies that output will exceed its 2019 level this year.

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