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Geostat: Georgia’s GDP growth rate reaches 10.4% in 2021

Christian Fernsby |
The nominal gross domestic product (GDP) of Georgia amounted to 60.23 billion GEL ($18.7bln/€16.94bln) in 2021, up by 22.3% year-on-year, while the real growth of GDP also increased by 10.4%, the preliminary data from the National Statistics Office of Georgia (Geostat) show.

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Topics: GEORGIA   

The largest share of GDP growth was posted in wholesale and retail trade, repair of motor vehicles and motorcycles (16.6%); manufacturing (11.7%); real estate activities (10.2%); construction (8%); agriculture, forestry and fishing (7%).

Real growth was registered in wholesale and retail trade, repair of motor vehicles and motorcycles (19.9%); transportation and storage (27.6%); arts, entertainment and recreation (43.

%); human health and social work activities (28.7%); financial and insurance activities (23.5%).

The reduction in the real value-added was recorded in construction (-21.8%); agriculture, forestry and fishing (-1.4%); education (-2.3%); public administration and defence; compulsory social security (-0.9%).

In the fourth quarter of 2021, the nominal GDP equalled 17.22 billion GEL ($5.35bln/€4.84bln), with the real GDP growth increased by 8.8% compared to the same period of the previous year. In 2020, the real growth of GDP decreased by 6.2%.


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