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Geostat Publishes 2016 GDP Growth Final Indicators

Geostat Publishes 2016 GDP Growth Final Indicators

The 2016 GDP in current prices constituted 34.028bln GEL, up 7.2% year on year.

According to the final report of Geostat, national statistics office of Georgia, the real growth made up 2.8% year on year, while the deflator’s percentage changed by 4.2%.

In the sectoral structure of GDP the trading sector is leader with 17%, industry is second with 16.4%, transport and communication – 9.9%, state governance – 9.1%, agriculture, fishing – 9%, development sector – 8.5%. real estate transactions, leasing and services – 6.7%, healtchare and social assistance – 6.1%.

Growth was recorded in the following sectors: hotels and restaurants -12.9%, housing – 10%, finances – 9.7%, mining industry – 9.5%, real estate transactions, leasing and services – 5.9%, electricity, gas and water supply and distribution – 4.9%. Downturn was recorded in transport sector (-3%) and communications (-3.1%).