Geostat: GDP growth rate amounts 5.1 percent for September

The estimated real Gross Domestic Product (GDP) growth rate amounted 5.1 percent for September 2023 year-over-year and the average real GDP growth for January-September 2023 equaled 6.8 percent, the Georgian National Statistics Office reports.

In September 2023, compared to the same period of the previous year, the estimated real growth in following activities contributed significantly: financial and insurance activities, construction, trade, accommodation and food service activities.

Declines were registered in manufacturing, transportation and storage, real estate activities.

"As you know, according to the data of the first 9 months of 2023, the export of goods has increased by approximately 13%, and the volume of import by 18%.

In September 2023, approximately 6,100 new enterprises were registered in the country, and this figure is approximately 14% lower than the data of the corresponding period of the previous year. The decrease is mainly due to the decrease in the registration of foreign private entrepreneurs.

The volume of turnover of VAT-paying enterprises increased by 3% and exceeded 12 billion 170 million GEL”, said Gogita Todradze, Executive Director of the Georgian National Statistics Office.