Georgian economy grew 10.4% in 2022

The National Statistics Office of Georgia on Wednesday published adjusted data of the gross domestic product growth of 2022 that showed a 10.4 percent growth for the country’s economy last year, Azernews reports, citing Agenda.

The updated figures also showed the GDP at current prices amounted to ?72.26 billion ($26.96bln) - a 20.4 percent year-on-year growth.

The Office said the largest shares of GDP by activity were displayed by:

• Wholesale and retail trade; repair of motor vehicles and motorcycles (15.9 percent) Manufacturing (11.3 percent)
• Real estate sector (10 percent)
• Construction (8 percent)
• Agriculture, forestry and fishing (6.9 percent)
• Transportation and storage (6.4 percent)
• Public administration and defence; compulsory social security (6.4 percent)
• Information and communication (5 percent)
• Financial and insurance activities (4.7 percent)
• Education (4.5 percent)

Real growth was registered in:

• Information and communication (59.1 percent)
• Wholesale and retail trade; repair of motor vehicles and motorcycles (10.8 percent) Transportation and storage (24.7 percent)
• Construction (16.5 percent)
• Manufacturing (10.5 percent)
• Electricity, gas, steam and air conditioning supply (29.3 percent)
• Accommodation and food service sector (14.6 percent)

It also said decreases had been recorded in healthcare and social work sector (-16.3 percent) and real estate (-3.7 percent).

This year, the Georgian economy grew by 5.1 percent in September year-on-year, while the average real gross domestic product growth between January and September equalled 6.8 percent, the Office said.