Page 16 - GEORptNov21

3.1 Macroeconomic overview
Georgian economy grows 12% in Jan-Aug
Georgia's economy expanded 12.0% year-on-year in the first eight months of 2021, compared with a 5.6% drop in the year-earlier period, preliminary government data showed on September 30. The gain came as the ex-Soviet republic recovered from the pandemic's fallout.
In the month of August, gross domestic product (GDP) grew by 10.3% compared with the same month a year earlier, National Statistics Office data showed. GDP shrank 5.3% in August last year.
In August, manufacturing, finance and insurance, trade, hotels and restaurants, as well as transportation and storage, all expanded. Construction, mining and quarrying contracted.
Georgia's economy contracted 6.2% in 2020 when COVID-19 restrictions were introduced, after growing 5% in 2019.
16 GEORGIA Country Report November 2021 www.intellinews.com