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Georgia reveals real GDP growth rate

07 July 2021 [17:45] - TODAY.AZ

By Trend

The estimated real Gross Domestic Product (GDP) growth rate in April 2021 equaled 44.8 percent year-on-year and 8.1 percent from January through April of 2021 year-on-year, Trend reports citing the Georgian National Statistical Office (Geostat).

In April 2021 the estimated real growth compared to the same period of the previous year was observed in the following activities: manufacturing, construction, trade, transportation and storage, hotels and restaurants, financial and Insurance activities, real estate activities, professional, scientific, and technical activities.

A decline was registered in mining and quarrying.

Geostat produces monthly rapid estimates of real GDP growth rate using administrative data on VAT taxpayers’ turnover, fiscal and monetary statistics. 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.), estimations are based on the data for previous periods.

Furthermore, the data on VAT taxpayers’ turnover for the previous months may be updated on a monthly basis, resulting in corresponding adjustments of real GDP growth rate estimates.


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