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Q2’20 GDP Declined by 12.3% – Preliminary Data

Georgia’s real GDP contracted by 12.3% year-on-year during the second quarter of 2020, according to preliminary data released by the National Statistics Office (Geostat) on September 18.

In Q2’20, GDP at current prices amounted to GEL 11.2 billion (USD 3.5 billion),  while the GDP deflator increased by 6.3%.

Geostat also released data on the amount of decreases in the real value-added of various activities: repair of motor vehicles and motorcycles – 13.2% decrease; construction – 24.5% decrease; accommodation and food service – 40% decrease; transportation and storage – 22.6% decrease; manufacturing – 12.1% decrease; professional, scientific, technical activities – 28.8% decrease; financial and insurance activities – 15.5% decrease; administrative and support service activities – 54.7% decrease; arts, entertainment and recreation – 24.1% decrease.

Geostat however reported real growth in health and Social work – 14.3%; education – 11.7%; agriculture, forestry and fishing – 4.7%; mining and quarrying – 6.4%.

Revised data on the second quarter of 2020 will be published on November 16.

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