Geostat: Georgia’s GDP Declines 16.6% in April

Georgia’s real GDP declined 16.6% year-on-year in April, according to the preliminary data released by the National Statistics Office (Geostat) on May 29.

The corresponding figure for March stood at -2.7%, after 5.1% and 2.2% y/y growth in January and February, respectively.

“In April 2020 the estimated real growth compared to the same period of the previous year was posted negative in almost all activities,” Geostat said, however, adding that the growth was registered in mining and quarrying.

• Q1’20 GDP Growth 1.5% in Georgia – Preliminary Data

Geostat also reported that GDP declined 3.6% in the first four months of 2020, after 1.5% y/y growth in the first quarter of the year.

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