According to the latest data from the National Statistics Office (Geostat), Georgia’s real GDP saw a significant increase of 9.6% in the second quarter of 2024, reaching GEL 22.102 billion (USD 8.189 billion). This growth was mainly driven by the wholesale and retail trade sector, as well as the accommodation and food service industry, which saw a 35.7% increase. Other sectors that contributed to the overall growth include education, manufacturing, construction, and transportation and storage.
However, there were also some areas that experienced a decline, such as electricity, gas, steam and air conditioning supply, which saw a decrease of 6.3%. Other service activities also saw a slight decline of 1.4%.
Geostat will release revised data on November 15, 2024. It is worth noting that these numbers may change as more information becomes available.
Despite the positive growth in the economy, there are still some concerns about the current government‘s policies and their impact on certain sectors. It is important for the government to address these issues and ensure that all industries are able to thrive and contribute to the country‘s overall economic growth.
Read More @ civil.ge