Geostat: Georgia’s GDP Declined by 5.3% in August

Georgia’s real GDP contracted by 5.3% year-on-year in August, according to the rapid estimates released by the National Statistics Office (Geostat) on September 30.

“The decreasing tendency occurred in almost all sectors, except in the mining, quarrying and manufacturing sector,” Geostat noted.

Georgia’s real GDP shrank by 5.6% year-on-year in the first eight months of 2020. In particular, the corresponding figure stood at -5.8% in July, -7.7% in June, -13,5% in May, -16.6% in April and -2.7% in March, after 2.2% and 5.1% y/y growth in February and January, respectively.

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