Georgia's GDP 6.8% down in 2020
Georgia's GDP 6.8% down in 2020

External Merchandise Trade (excluding non-declared trade) of Georgia amounted to USD 11 352.3 million in January-October 2021, 23.0 per cent higher year-on-year, National Statistics Office (GeoStat) reported on Monday.

The value of export increased by 24.9 per cent reaching USD 3 392.4 million, while the import increased by 22.3 per cent and amounted to USD 7 959.8 million. The trade deficit equaled USD 4 567.4 million and its share in trade turnover constituted 40.2 per cent, the agency noted.

According to revised estimates, the Gross Domestic Product (GDP) of Georgia at current prices amounted to 49 266.7 million GEL in 2020. In 2020 compared to the previous year the real GDP declined by 6.8 per cent, while the GDP deflator percentage change equaled 7.3 per cent, GeoStat stated.

The largest shares of GDP by activity are held by wholesale and retail trade; repair of motor vehicles and motorcycles (14.8 per cent) and real estate activities (11.7 per cent), followed by manufacturing (10.7 per cent), construction (8.7 per cent), agriculture, forestry and fishing (8.3 per cent), public administration and defence; compulsory social security (7.5 per cent), transportation and storage (6.1 per cent), financial and insurance activities (5.1 per cent), education (4.9 per cent).

Real growth was registered in agriculture, forestry and fishing (8.1 per cent), education (8.6 per cent), mining and quarrying (12.4 per cent), public administration and defence; compulsory social security (2.3 per cent), human health and social work activities (2.8 per cent), information and communication (2.6 per cent).

Reduction in the real value-added was recorded in accommodation and food service activities (-44.9 per cent), transportation and storage (-23.0 per cent), manufacturing (-7.1 per cent), construction (-8.0 per cent), retail trade; repair of motor vehicles and motorcycles (-4.7 per cent).

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