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Third Quarter Records 3.7% Economic Growth

According to Geostat, the national statistics service of Georgia, the GDP indicator in current prices made up 10 586.8 million GEL in the third quarter of 2018.

The GDP real growth rose by 3.7% year on year, while the deflator rose by 3.4%. The real GDP growth in January-September 2018 made up 4.8% as compared to January-September 2017.

“The growth was recorded in the following sectors: public utilities, special and personal services (19.9%), transport (16.2%), financial sector (15%), real estate operations, leasing and consumer services (13.4%), communications (8.9%), healthcare and social assistance (8.6%), hotels and restaurants (7.4%), mining industry (6.2%), processing of goods by household economies (5.9%), agriculture, hunting and fishing (3.8%),

Meanwhile, downturn was recorded in the following sectorს: development(-9.2%), state governance (-2.9%), and processing industry (-2.3%).

Commerce holds the major ratio in the sectoral structure of GDP with 18.1%. Industry is second with 17%, transport and communications come third with 11.5%, construction business (9.4%), agriculture, hunting, fishing (8.4%), real estate operations, leasing and consumer services (7.9%), state governance (6.3%), healthcare and social protection (5.7%)”, the Geostat statement reads.