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Q3’21 GDP Up by 9.1%

Georgia’s real GDP increased by 9.1% year-over-year during the third quarter of 2021, according to preliminary data released by the National Statistics Office (Geostat) on December 20.

In Q3’21, GDP at current prices amounted to GEL 16 billion (USD 5.1 billion), while the GDP deflator increased by 9.4%.

Geostat said the significant contributions to the real GDP growth in the quarter were related to the increase of value-added in electricity gas, steam and air conditioning supply (78.8% growth), accommodation and food service activities (49.8%), arts, entertainment and recreation (48.1%), transportation and storage (29%), human health and social work activities (23.8%), financial and insurance activities (20.3%), wholesale and retail trade (12.3%) and manufacturing (7.3%).

Geostat, however, reported a decrease in real value-added in construction (-29.7%), education (-7.8%), public administration and defense, compulsory social security (-3.9%) and agriculture, forestry and fishing (-2.9%).

Revised data will be published on November 15, 2022.

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