Geostat Executive Director: In November 2020, compared to the same period last year, we have a 7.7% decline in the Georgian economy

According to the declared data, in November 2020, compared to the corresponding period of the previous year, we have a 7.7% decline in the Georgian economy, and the 11-month average is -5.9%, - said Gogita Todradze, Executive Director of the National Statistics Office. According to him, despite the economic downturn, the growth trend was observed in the manufacturing industry, financial activities, information and communication, as well as water supply, sewerage and waste management. In other sectors, a downward trend was observed.

"Especially noteworthy is the decline in the turnover of VAT-paying enterprises, as well as the downward trend in the construction, transport and warehousing, hotels and restaurants, arts, entertainment, leisure and trade sectors. In November 2020, exports of goods decreased by 13.4% and imports by 12.1%. As for the 11-month total foreign trade, exports fell by 11.3%, while imports fell by about 16%.

In November 2020, about 3450 new enterprises were registered in the country and this figure is 11.4% lower than the corresponding period of the previous year. The turnover of VAT-paying enterprises used in the preliminary assessment of economic growth decreased by 4.2% and amounted to GEL 7.3 billion", - stated Trodradze.