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Geostat: GDP Declined by 5.5% in July

Georgia’s real GDP contracted by 5.5% year-on-year in July, according to the preliminary data released by the National Statistics Office (Geostat) on August 31.

“In July 2020 the estimated real growth compared to the same period of the previous year was posted negative in almost all activities. Growth was registered in Mining and quarrying and Manufacturing,” Geostat said.

Georgia’s real GDP shrank by 5.8% year-on-year in the first seven months of 2020. In particular, the corresponding figure stood at -7,7% in June, -13,5% in May, -16.6% in April and -2.7% in March, after 2.2% and 5.1% y/y growth in February and January, respectively.


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