Real GDP up 5.6% y/y in 3Q14
Real GDP increased 5.6% y/y in 3Q14 according to GeoStat. Construction was the fastest growing sector at 17.8% y/y, followed by financial intermediation (+12.8%) and mining (+11.4%). GDP base was diversified with manufacturing accounting for the largest share (18.3%), followed by trade (17.6%) and transport and communications (10.6%). GDP deflator was 4.5% in 3Q14.
Exports up 0.5% y/y; imports up 9.0% y/y in 11M14
Exports increased 0.5% y/y at US$2.6bn, while imports were up 9.0% y/y at US$7.7bn in 11M14, according to GeoStat preliminary figures. While in November exports decreased by 34.9% y/y and imports fell by 7.1% y/y. As a result, trade deficit reached US$5.1bn, up by 14.5% y/y in 11M14.
International cooperation continues
Georgian and Chinese governments signed a grant agreement for the amount of US$ 4.6mn under an economic and technical cooperation program. Government of Japan allocated grant in the amount of US$ 850,000 for purchasing equipment for Georgia’s environmental needs.
