Georgian economy contracts 8.3% in Jan-Feb
Georgian economic growth
In January-February of 2021, Georgia’s economic growth fell by 8.3 percent, with -5.1 growth in February alone compared to the same period last year, data from GeoStat show.
In February, there was a decrease in the following spheres:
- construction
- rental housing
- art
- entertainment and recreation
- transport
- real estate transactions
- Growth was seen in the financial and insurance sectors, trade, water supply and waste management.
- Strong downturn in Georgian economy continues – new data for January
- Unemployment soars over 20% in Georgia
- Almost 30,000 Georgian children do not have access to soap and are unable to wash at home, says UNICEF report
This is the twelfth month in a row of negative growth. In 2020, gross domestic product (GDP) as a whole fell by 6.1 percent.
The rate of economic growth last year looks like this:
- January – an increase of 5.1 percent
- February – an increase of 2.2 percent
- March – a decrease of 2.7 percent
- April – a decrease of 13.5 percent
- May – a decrease of 16.6 percent
- June – a decrease of 7.7 percent
- July – a decline of 5.5 percent
- August – a decrease of 5.3 percent
- September – a decrease of 0.7 percent
- October – a decrease of 3.9 percent
- November – a decrease of 7.7 percent
- December – a decrease of 7.9 percent
