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Q2’21 GDP Up by 29.9%

Georgia’s real GDP increased by 29.9% year-over-year during the second quarter of 2021, according to preliminary data released by the National Statistics Office (Geostat) on September 17.

In Q2’21, GDP at current prices amounted to GEL 15.9 billion (USD 4.8 billion), while the GDP deflator increased by 10.3%.

Geostat also released data on the amount of growth in the real value-added of various activities: Arts, entertainment, and recreation – 133.6%; Accommodation and food service activities – 75.5%; Information and communication – 56.2%; repair of motor vehicles and motorcycles – 53.9%; Water supply; sewerage, waste management, and remediation activities – 49.8%; Transportation and storage – 47.0%; Financial and insurance activities – 45.5%; Human health and social work activities – 43.4%; Manufacturing – 42.3%;

Geostat, however, reported decrease in real value-added in Agriculture, forestry, and fishing by 2.3% and in education by 1.4%.

Revised data on the second quarter of 2021 will be published on November 15.

In the second quarter of 2020, Georgia’s real GDP contracted by 12.3% year-over-year.

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