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Georgia’s Real GDP Growth at 10.5% in 2021

Georgia’s real GDP growth amounted to 10.5% year-over-year in 2021, according to the revised estimates released by the National Statistics Office (Geostat) on November 15.

The nominal GDP equaled GEL 60 billion (USD billion) in 2021, up by 21.8% annually. Meanwhile, the GDP deflator equaled 10.3%.

Per Geostat, real growth was registered in wholesale and retail trade, repair of motor vehicles, and motorcycles – 12.4%, transportation, and storage – 28.9%, arts, entertainment, and recreation – 47.2%, human health, and social work activities – 29.3%, financial and insurance activities – 21.2%, electricity, gas, steam, and air conditioning supply – 44.4%, real estate activities – 8.7%, information and communication – 30.1%, and accommodation and food service activities – 34%.

Meanwhile, a decrease of 23.9% was registered in construction.

According to Geostat, the largest share of GDP activity was held by wholesale and retail trade, repair of motor vehicles, and motorcycles – 15.4%. followed by manufacturing – 11.3%, real estate activities – 10.2%, construction – 7.5%, agriculture, forestry, and fishing – 7.4%, public administration, and defense, compulsory social security – 6.5%, transportation, and storage – 6.3%, financial and insurance activities – 5.2%, human health and social work activities – 4.8%, and education – 4.7%.

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