Georgian Economy Hit a Record 44.8% in April

Georgian economy grew by 44.8% in April compared to the same period of the last year, - show preliminary data from the Statistics Office of Georgia (Geostat). Such high economic growth is mainly due to the so-called the "base effect “, because the economy shrank by 16.6% in April 2020 due to the lockdown in the country.

“In April 2021 the estimated real growth compared to the same period of the previous year was observed in the following activities: Manufacturing, Construction, Trade, Transportation and storage, Hotels and restaurants, Financial and Insurance activities, Real estate activities, Professional, scientific and technical activities”, the document reads.

According to Geostat, VAT taxpayers’ turnover made up 8.44 billion GEL in April, the figure is 93% high compared to the same period of 2020.

Exports increase had a positive impact on economic growth as well, which was up by 19.6% this year.