BUSINESS
UNICEF - Georgia’s economy grows in 2017
12 June, 2018
Georgia’s economy rebounded in 2017 on the back of strong export performance, fast growing tourism, increasing foreign direct investments (FDI) and remittances,- UNICEF’s new Welfare Monitoring Survey says.

“In 2017, the nominal Gross Domestic Product (GDP) of Georgia at the market price totaled 38,042 million GEL, an 11.8% increase from the previous year. According to the National Statistics Office of Georgia (Geostat), the real GDP expanded 5.0% year-on-year in 2017, following two years of growth below 3% between 2015 and 2016.
An improvement in economic growth has been supported by positive trends in the external sector – in particular, by an increase in exports (29.1%), remittances (19.8%) and FDI inflows (16.2%). This strong performance reflected real gains of 11.2% in construction, 11.2% in hotels and restaurants, 9.2% in financial intermediation, 7.2% in transport, 7.1% in mining and quarrying, 6.6% in trade services, 6.3% in real estate and other business activities, and 5.0% in manufacturing. A decrease in real value-added was registered in agriculture, forestry and fishing (-2.7%) and in the household processing of products (-2.7%),” the survey says.

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