Real Growth of Georgia’s GDP amounted to 2.8% in 2016

The annually adjusted Gross Domestic Product (GDP) of Georgia at current prices in 2016 totaled 34.02 billion GEL, up 7.2 percent year-on-year, according to the latest data from Geostat, the National Statistics Office of Georgia.

In the same period the real growth of the country’s GDP amounted to 2.8 percent, while the change to the implicit price deflator totaled 4.2 percent year-on-year.

Geostat published its adjusted figures of GDP growth in Georgia for 2016, with the largest shares of GDP activity held by:
• Trade services (17 percent)
• Industry (16.4 percent)
• Transport and communication services (9.9 percent)
• Public administration (9.1 percent)
• Agriculture, forestry and fishing (9.0 percent)
• Construction (8.5 percent)
• Real estate, renting and business activities (6.7 percent)
• Health and social work (6.1 percent)

Real growth was registered in:
• Hotels and Restaurants (12.9 percent)
• Construction (10 percent)
• Financial intermediation (9.7 percent)
• Mining and Quarrying (9.5 percent)
• Real estate, renting and business activities (5.9 percent)
• Electricity, gas and water supply (4.9 percent)

A decrease in real added-value was recorded in the transport and communication industries at -3 and -3.1 percent, respectively, Geostat reported. (agenda.ge)