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GEOSTAT publishes report on Gross Domestic Product

By Nika Gamtsemlidze
Friday, December 27
GEOSTAT published a report on Gross Domestic Product (GDP).

As the report reads, Gross Domestic Product (GDP) of Georgia at current prices in 2018 amounted to 44 599.3 million GEL. The largest share of GDP by region are held by Tbilisi (51.7 percent), followed by Imereti (9.3 percent), Adjara A.R (9.0 percent), Kvemo Kartli (7.8 percent) and Samegrelo-Zemo Svaneti (5.3 percent).

The largest share in the value-added of Tbilisi is held by Wholesale and retail trade; repair of motor vehicles and motorcycles (20.7 percent), followed by Real estate activities (12.0 percent) and Construction (10.9 percent).

In Imereti, the primary sectors include Manufacturing (13.4 percent), Agriculture, forestry and fishing (11.5 percent) and Real estate activities (11.2 percent), while in Adjara A.R the third region of Georgia in terms of value-added volume - Construction (16.6 percent), Real estate activities (15.5) Wholesale and retail trade; repair of motor vehicles and motorcycles (10.6 percent) represent the main spheres of economic activity. In Kvemo Kartli the following sectors prevailed: Manufacturing (23.3 percent), Agriculture, forestry and fishing (17.2 percent) and Public administration and defence; compulsory social security (10.6 percent).

Gross regional domestic product (GRDP) or gross domestic product of the region (GDPR) is a statistic that measures the size of a region's economy. It is the aggregate of gross value added (GVA) of all resident producer units in the region, and analogous to national gross domestic product. The GRDP includes regional estimates on the three major sectors including their sub-sectors, namely: Agriculture, fishery and forestry; Industry sector: Mining and quarrying, manufacturing, construction, electricity, and water; Service sector: Transport, communication, and storage, trade, finance, ownership of dwellings and real estate, private government services.

The GRDP is usually presented in nominal and real terms. Nominal GRDP measures the value of the outputs of the economy at current prices. Real GRDP referred to as GRDP at constant prices, measures the value of an economy's output using the prices of a fixed base year. The real GRDP is useful in capturing real output growth since inflationary effects have been removed. It is, therefore, the most widely used measure of real income.

National Statistics Office of Georgia, the legal entity of public law, carries out its activities independently. It is an institution established to produce the statistics and disseminate statistical information according to the Georgian legislation. The National Statistics Office of Georgia is established by the Law of Georgia, 11 December 2009, on Official Statistics.