Page 14 - GEORptOct21

Georgia - Main Macro 2018 2019 Q1 20* Q2 20* Indicators
Q3 20*
Q4 20*
2020* Q1 Q2
2021* 2021*
GDP real growth (y/y, %)
4.8 5.0 2.3 -13.2 -5.6 -6.8 -6.2 -4.5 29.9
GDP per capita (at current 4,722.0 4,696.2 1,016.3 952.9 1,156.2 1,144.1 4,274.6 912.5 1,282.7 prices), USD
GDP per capita (at current prices), GEL
11,968 13,239 2,974.3 2,999.2 3,586.7 3,741.6 13,292.7 3,024.1 4,267.8
GDP at current prices, (USD bn)
17.6 17.5 3.8 3.5 4.3 4.3 15.9 3.4 4.8
GDP at current prices, (GEL bn)
44.6 50.0 11.1 11.1 13.3 13.9 49.4 11.3 15.9
GDP deflator (y/y, %)
4.4 6.6 7.1 7.2 5.9 7.4 6.9 6.8 10.3
Source: Geostat
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.
14 GEORGIA Country Report October 2021 www.intellinews.com