Geostat: Georgian Economy Grew by 6.4% in November

The Georgian economy grew 6.4% in November 209, shows the preliminary data of the National Statistics Office of Georgia (Geostat).

The estimated real Gross Domestic Product (GDP) growth rate in November 2019 equaled 6.4 percent year-on-year. An average estimated real GDP growth equaled 5.3 percent for the first eleven months of 2019 year-on-year.

In November 2019 the estimated real growth compared to the same period of the previous year was posted in the following activities: Manufacturing, Transport and Storage, Construction, Wholesale and retail trade; repair of motor vehicles and motorcycles. A decrease was registered in Real estate activities and in Arts, Entertainment and recreation activities.

Geostat produces monthly rapid estimates of real GDP growth rate using administrative data on VAT taxpayers’ turnover, fiscal and monetary statistics. The compilation of rapid estimates is an internationally adopted practice to obtain a preliminary monthly growth rate of real GDP. For those sectors, where preliminary monthly data do not exist (e.g. agriculture. non-observed economy etc.), the estimations are based on the data for previous periods.

By Ana Dumbadze 

Full report available here