Georgian GDP on rise

/By AzerNews/

By Laman Sadigova

Despite negative situation in the region, Georgian GDP has increased by 2.5 percent in the third quarter of the year compared to the same period in 2014.

At current prices, the GDP for the third quarter 2015 amounted to 8.2 million lari ($3.54 million). Deflator for the third quarter 2015 amounted to 6.3 percent.

The National Bank of Georgia notes that the real economic growth in the third quarter is in line with the expectations.

The difficult economic situation in the region has a negative impact on revenues from the export of goods and services. During the year, economic growth was mainly linked to domestic consumption, which is weakened by a decrease in remittances and cargo service of loans in foreign currency, according to the National Bank.

During the third quarter of 2015the following areas showed the biggest increase -- mining - 24.1 percent, construction - 15.4 percent, financial activities - 9.3 percent, operations with real estate, rent and providing customer service by 6.1 percent, communication - 5.7 percent, hotels and restaurants sphere - 4.4 percent, production and distribution of electricity, gas and water - 5.6 percent, transport - 5.3 percent and provision of public, social and pension services by 4.3 percent.

The largest decline was recorded in the areas of processing industry - 6.7 percent and transport – 1 percent.

The largest spheres in the GDP structure are concentrated in the industry - 17.4 percent, trade - 17.3 percent, transport and communications – 11 percent, agriculture and fisheries - 9.4 percent, construction - 8.9 percent, public administration - 8.8 percent, operation real estate, rent and providing customer service - 6.9 percent, health and social protection – 6 percent.