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Georgia had 8% growth in first five months of 2012

by | Jun 20, 2012

TBILISI, DFWatch – Georgia’s gross domestic product (GDP) grew 6.8 percent in first quarter of 2012 compared to the same period last year, according to Georgia’s National Statistics Department (Geostat).

Extending the estimate one month, Geostat director Zaza Chelidze says Georgia’s GDP in the first five months of 2012 amounted to 5 660.9 million lari by the current currency rate, which is 8.7 percent more than in same period last year.

Breaking the figures down by sectors, Chelidze said industry’s share of GDP was 18.2 percent. Then comes trade, which had a 15.6 percent share, followed by transport and communications – 11.2 percent, state government – 10.5 percent, agriculture and fishing 9.6 percent and healthcare 6.5 percent.

There is significant growth in the following sectors: construction – 26.3 percent, manufacturing 20.4%, 16.7% from financing activities, hotels and restaurants 9,4%, transport 8.6%,

There is growth in the following sectors: communications – 7.8 percent, operations through real assets, rent and service to customers – 6.8 percent, electricity, natural gas and water production and distribution – 6.4 percent, trade – 6.3 percent, other utility, social and personal services – 6 percent, state govern – 3.8 percent, agriculture, hunting, forestry; fish farming and fishery 3.1 percent, education 2.2 percent.

There is negative growth in the following sectors: mining industry – 4.1 percent, household reproduction – 1.4 percent.

“It should be noted that in the first quarter of 2012 real growth of additional gross value added to construction sector is 26.3 percent more compared to last year. This is caused by large scale construction, railway and highway projects in state and private sectors,” Chelidze noted.

He explains that significant development of food product, wine, construction material and chemical products caused high growth rates in manufacturing. Tourism development caused additional growth rates in following activities: hotel, restaurants, transport.



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