Geostat: Q4’22 GDP Up by 9.7%

On March 21, the National Statistics Service of Georgia (Geostat) published preliminary data indicating that in the fourth quarter of 2022, the country’s real gross domestic product (GDP) increased by 9.7% compared to the corresponding period of the previous year, reaching 20.6 billion GEL at current prices.

According to Geostat, in the IV quarter of 2022, the following industries made a significant contribution to growth: construction (33.2 percent), information and communication (60.9 percent), wholesale and retail trade; repair of motor vehicles and motorcycles (13.1 percent), transportation and storage (27.9 percent), arts, entertainment and recreation (16.8 percent), manufacturing (5.0 percent).

During the same period, a decrease was noted in the following sectors: real estate activities (-8.7 percent), human health and social work activities (-8.8 percent), agriculture, forestry and fishing (-2.8 percent), professional, scientific, and technical activities (-5.2 percent).

Geostat will publish the revised data by November 15, 2023.

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