Geostat: GDP fell by 6.8 per cent in Q4, 2020

11:28, 22.03.2021

The GDP volume at current prices made GEL 13 907.0 million in the fourth quarter of 2020. The National Statistics Office reported the preliminary data, indicated that the decline in real GDP made 6.8 per cent year-on-year. Gross domestic product deflator increased by 7.4 per cent.

According to Geostat, accommodation and food delivery activities (-53.8 per cent), transport and warehousing (-26.7 per cent), arts, entertainment and recreation (-27.9 per cent), wholesale And retail (-3.9 per cent) sectors significantly contributed to the decline in Q4, 2020.

Growth was observed in financial and insurance activities (7.2 per cent), agriculture, forestry and fisheries (5.2 per cent), health and social services (6.3 per cent), information and communication (3.7 per cent).

At the same time, trade (15.8 per cent) and manufacturing (12.0 per cent) have the largest share in the sectoral GDP structure.

By - Svetlana Alimova

Economics

National Statistics Office