Economic growth

GDP Growth Rate Lowest in the Agricultural Sector

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Photo: cypressenv.com

Based on a report published by GeoStat, in the first quarter (Q1) of 2017 the real growth of Gross Domestic Product (GDP) in Georgia amounted to 5.1% year-on-year. The nominal GDP totaled 8,318 million GEL.

Growth rates in some sectors, such as construction and communications, reached two-digit indicators. The lowest growth was in agriculture, hunting and forestry; and the fishing sector - the growth rate in this sector decreased by 1.5%.

The five sectors with the lowest growth rates, y/y

5. Electricity, Gas and Water Supply,  and Imputed Rent of Owner Occupied Dwellings - 1.3%
4. Wholesale and Retail Trade; Repair of Motor Vehicles, Motorcycles and Personal and Household Goods – 0.9%
3. Processing of Products by Households - 0.1%
2. Public administration – 1.3% decrease
1. Agriculture, Hunting and Forestry; Fishing – 1.5% decrease

The five sectors with the most significant growth rates, y/y

1. Construction – 21.6 %
2. Communications - 11.5 %
3. Hotels and Restaurants - 8.7 %
4. Manufacturing – 8 %
5. Other community, Social and Personal Service Activities - 7.9 %

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