National Statistics Office of Georgia: GDP growth rate amounts to 9.5 percent for February 2024 compared to previous year
Photo: The National Statistic Office Of Georgia
The National Statistics Office of Georgia on Friday said the estimated real Gross Domestic Product (GDP) growth rate amounted to 9.5 percent for February 2024 compared to previous year and the average real GDP growth for January-February 2024 equaled 7.7 percent.
In February 2024, compared to the same period of the previous year, the estimated real growth of the following activities contributed significantly: manufacturing, construction, professional scientific and technical activities, information and communication and transportation and storage and declines were registered in energy, mining and quarrying activities.
The National Statistic Office of Georgia produces monthly rapid estimates of real GDP growth rate using administrative data on VAT taxpayers’ turnover, fiscal and monetary statistics.
Compilation of rapid estimates is an internationally adopted practice to obtain a preliminary monthly growth rate of real GDP .For those sectors, where preliminary monthly data do not exist, estimations are based on the data for previous periods.
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