Georgia’s GDP reaches 8.2 million GEL in Q3, 2015
Tuesday, December 22
In the third quarter (Q3) of 2015, Georgia’s Gross Domestic Product (GDP) showed a real growth of 2.5 percent year-on-year (y/y), while the GDP deflator increased by 6.3 percent.
Information released by the National Statistics Office of Georgia, Geostat, showed Georgia’s GDP had increased from 7.56 billion GEL in Q3 2014 to 8.24 billion GEL in Q3 2015.
Preliminary Geostat data revealed the largest shares of GDP by activity were held by:
• Industry (17.4 percent);
• Trade services (17.3 percent);
• Transport and communication services (11.0 percent);
• Agriculture, hunting and forestry, fishing (9.4 percent);
• Construction (8.9 percent);
• Public administration (7.6 percent);
• Real estate, renting and business activities (6.9 percent); and
• Health and social work (6.0 percent).
In terms of GDP structure, the largest shares of GDP by activity were held by industry (17.4 percent) and trade services (17.3 percent), followed by transport and communication services (11.0 percent), agriculture, hunting and forestry, fishing (9.4 percent), construction (8.9 percent), public administration (7.6 percent), real estate, renting and business activities (6.9 percent) then health and social work (6.0 percent).
In terms of real growth in Q3 2015, the following sectors enjoyed positive growth:
• Mining and quarrying (24.1 percent);
• Construction (15.4 percent);
• Financial intermediation (9.3 percent);
• Real estate, renting and business activities (6.1percent);
• Communication (5.7 percent);
• Hotels and restaurants (4.4 percent) and;
• Community, social and personal service activities (4.3 percent).
Geostat data showed a decrease in the real value-added for manufacturing (-6.7 percent) and transport services (-1.0 percent), while public infrustructural projects and construction of a new gas pipeline led to an increase of real gross value added in construction. Geostat said the contraction of the manufacturing sector was the result of a reduction in the manufacture of non-alcoholoc and alcoholic beverages and tobacco products.