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Geostat: Georgia’s GDP Declined by 7.7% in November

Georgia’s real GDP contracted by 7.7% year-on-year in November according to the rapid estimates released by the National Statistics Office (Geostat) on December 31.

Despite the overall decline, Geostat said growth was registered in manufacturing, financial and insurance activities, information and communication, water supply, sewerage, waste management and remediation activities.

Georgia’s real GDP shrank by 5.9% year-on-year during January-November 2020, while the corresponding figure stood at -5.1% in January-October, at -5.0% in January-September and at -5.6% in January-August.

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