Economic Growth In Georgia And Neighboring Countries
In the third quarter, the economic growth speed in Georgia was 4,4%. In the accounting period, following sectors grew most of all: hotels and restaurants +12,6%; mining + 10,6%; construction +9,3%; trade +9,3%.
According to ISET, in the III quarter, out of the countries of the region, the highest growth was registered in Turkey, where economy has grown by 11,05%. It is notable that the economy of Turkey grew by 5,4% in the II quarter.
GDP growth in Armenia made 3,4%, which rate is lower compared to the previous quarter: in the second quarter of the year, economic growth rate was 5,5%.
In Russia, in the III quarter, economic growth rate was 2,4%.
The only neighboring country of Georgia, where economic is declining, is Azerbaijan. In the II quarter, GDP growth rate in Azerbaijan declined by -2,8%.