Georgia’s GDP growth rate reaches 10.4% in 2021

By Trend

The nominal gross domestic product (GDP) of Georgia amounted to 60.23 billion GEL ($18.7bln/€16.94bln) in 2021, up by 22.3 percent year-on-year, while the real growth of GDP also increased by 10.4 percent, the preliminary data from the National Statistics Office of Georgia (Geostat) show, Trend reports citing Agenda.ge.

The largest share of GDP growth was posted in the following sectors:

Wholesale and retail trade; repair of motor vehicles and motorcycles (16.6%)
Manufacturing (11.7%)
Real estate activities (10.2%)
Construction (8%)
Agriculture, forestry and fishing (7%)
Public administration and defence; compulsory social security (6.5%)
Transportation and storage (6.2%)
Financial and insurance activities (5.2%)
Human health and social work activities (4.8%)

Real growth was registered in:

Wholesale and retail trade; repair of motor vehicles and motorcycles (19.9%)
Transportation and storage (27.6%)
Arts, entertainment and recreation (43.1%)
Human health and social work activities (28.7%)
Financial and insurance activities (23.5%)
Real estate activities (9.2%)
Manufacturing (9%)
Accommodation and food service activities (29.8%)
Electricity, gas, steam and air conditioning supply (33.5%)
Information and communication (23.9%)
Mining and quarrying (13.5%)

The reduction in the real value-added was recorded following fields:

Construction (-21.8%)
Agriculture, forestry and fishing (-1.4%)
Education (-2.3%)
Public administration and defence; compulsory social security (-0.9%)

In the fourth quarter of 2021, the nominal GDP equalled 17.22 billion GEL ($5.35bln/€4.84bln), with the real GDP growth increased by 8.8 percent compared to the same period of the previous year. In 2020, the real growth of GDP decreased by 6.2 percent.

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