The Georgian economy grew by 29.9% in the second quarter of 2021 compared to the previous year and to 912.7 million lari (about $ 5.12 billion), according to the National Statistical Office of Georgia.
According to Geostat, the following industries contributed significantly to growth in the second quarter:
● Wholesale and retail trade (53.9%)
● Manufacturing industry (42.3%)
● Arts, entertainment, and recreation (133.6%)
● Transport and logistics (47%)
● Construction (36.9%)
● Accommodation and meals (75.5%)
● Financial and insurance activities (45.5%)
According to Geostat, during the reporting period, economic indicators in the spheres of tourism, trade, and transport services have grown the most. The largest growth was recorded in the field of entertainment and the arts - 133.6%.
The National Statistical Office of Georgia has calculated by how much Georgia's economy contracted during the 2020 pandemic. The economy contracted by 6.1% in 2020, a record decline in 26 years, according to Geostat.
Georgia's economy has grown every year since 1994, apart from 2009, when it contracted 3.65% due to the Russian-Georgian war. For comparison: in 2014-2019, the Georgian economy grew by an average of 4.17%.
