Q3’20 GDP Declined by 5.6% – Preliminary Data
Georgia’s real GDP contracted by 5.6% year-on-year during the third quarter of 2020, according to preliminary data released by the National Statistics Office (Geostat) on December 18.
In Q3’20, GDP at current prices amounted to GEL 13.33 billion (USD 4.03 billion), while the GDP deflator increased by 5.9%.
Geostat also released data on the amount of decreases in the real value-added of various activities: accommodation and food service activities – 53.1% decrease; transportation and storage – 25% decrease; arts, entertainment and recreation – 32.4% decrease; administrative and support service activities – 49% decrease; professional, scientific and technical activities – 12.5% decrease; electricity, gas, steam and air conditioning supply – 11.5% decrease; financial and insurance activities – 4.4% decrease.
Geostat however reported real growth in public administration and defence, compulsory social security – 4.3%; human health and social work activities – 6.6%, education – 5.6%; mining and quarrying – 14.7%; construction – 2%; agriculture, forestry and fishing – 1.5% increase.
Revised data on the third quarter of 2020 will be published by November 15, 2021.
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