Economy
Posted: 2 weeks ago

Georgia’s Economic Growth Hit 4% in March 2021

Following a significant plunge in January-February 2021, the Georgian economy recorded a 4% upturn in March.
 
Despite the Mach breakthrough, the 1Q21 growth remains negative. According to Geostat, the national statistics service of Georgia, the average real downturn in January-March 2021 constitued 4.2%.
 
As compared to the same period of 2020, January-March 2021 recorded a growth in the following directions: finance and insurance industry, trade, recycling industry, real estate operation, electricity, natural gas, and steam power distribution, transportation, information, and communications.
 
The downturn was recorded in construction, mining, entertaining, and recreation industries. We remind you that in January 2021, the Georgian economy declined by 11.5%, while the contraction constituted 5.1% in February.