January Sees 11.5% Downturn in Georgian Economy

According to Geostat, the national statistics service of Georgia, in January 2021, the Georgian economy declined by 11.5%.

As compared to January 2020, the reporting month recorded a downturn in the following directions: construction, transport and storehouses, processing industry, accommodation facilities, and others. According to Geostat, growth was recorded in the information and communications sector, financial, and insurance fields.

In January 2021, exports declined to $224.4 million, down 16.2%, compared to January 2020. Imports also declined by 16.6% to $538 million. A total of 2,835 new enterprises were registered in January 2021, down 23.3% as compared to the same period of 2020. Turnover of VAT-payer companies declined by 8.1% compared to January 2020 and constituted around GEL 5.8 billion.