01 December 2020,   23:03
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Georgian economy shrinks 0.7% in September – Geostat

Estimated real gross domestic product (GDP) declined by 0.7% in September 2020 year-on-year and by 5% in the first 9 months of 2020 year. According to the National Statistics Office of Georgia (Geostat), economic growth rate was -0.5%.

In September 2020 estimated real growth compared to the same period of the previous year was negative in: transportation and storage, accommodation and food service activities, arts, entertainment and recreation, construction, professional, scientific and technical activities, information and communication. On the other hand, increase was registered in manufacturing, mining and quarrying, wholesale and retail trade, financial and insurance activities.

Georgia is forecast to return to economic growth of 4.5% in 2021.

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