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Georgian GDP grows by over 10% in three quarters of 2022

Finance Materials 31 October 2022 14:45
Moscow, Russia TASS
Georgian GDP grows by over 10% in three quarters of 2022

Georgia's real GDP in January-September 2022 rose by 10.2% against 11.3% in the same period last year, the National Statistics Service of Georgia reported on Monday.

In September 2022, the country's economy grew by 8.8% in annual terms. Compared to 2021, sectors such as transport, information, and communications, construction, restaurants and hotels, as well as in the processing and mining industries experienced growth in 9 months of 2022. The decline was noticed in the real estate sector.

Georgia's foreign trade turnover in January-September 2022 amounted to about $14 bln, which is 35.3% more than in 2021. The total merchandise exports amounted to more than $4 bln, up 37.4% from 2021, while imports reached over $9.5 bln, rising by 34.4% from last year’s figures.

Georgian Prime Minister Irakli Garibashvili said at a government meeting that the authorities expect double-digit economic growth by the end of the current year.

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