Geostat: Economic Growth Declined by 16,6% in April

Estimated real Gross Domestic Product (GDP) declined by 16.6% in April 2020 YoY and by 3.6% in the first four months of 2020 YoY, shows the latest report by the National Statistics Office of Georgia (Geostat). 

In April 2020 the estimated real growth compared to the same period of the previous year was posted negative in almost all activities. Growth was registered in Mining and quarrying.

Particularly noteworthy is the decline in construction, trade, manufacturing, transport, hotels and restaurants, real estate operations, arts, entertainment and leisure sectors.

At the same time, in April, exports of goods decreased by 28%, while imports decreased by 39%.

The decrease is also observed in terms of enterprise registration.

The head of Geostat, Gogita Todradze, noted that a total of 307 enterprises were registered in April, which is 93% less than in April last year.

See  the full report by Geostat here 

By Ana Dumbadze