Rapid Estimates of Economic Growth, July 2016

Published in Economics
Wednesday, 31 August 2016 11:15

The estimated real Gross Domestic Product (GDP) growth rate amounted to 2.1 percent y-o-y in July 2016. The estimated real GDP growth in Q2 2016 equaled 3.1 percent y-o-y.
The estimated real GDP growth for the first seven months of 2016 reached percent 2.7 y-o-y. Geostat produces monthly rapid estimations of real GDP growth using administrative data on VAT taxpayers’ turnover, fiscal and monetary statistics. The compilation of rapid estimates is an internationally adopted practice to obtain preliminary monthly growth of real GDP.
For those sectors, where preliminary monthly data do not exist (e.g. agriculture, nonobserved economy etc.), the estimations are based on the data for previous periods. Therefore, the actual quarterly real GDP growth may significantly differ from monthly rapid estimates.
Furthermore, the data on VAT taxpayers’ turnover for the previous months might be updated on a monthly basis, implying corresponding adjustments of real GDP growth estimates.
for more details click: geostat.ge 

Read 917 times

Related items

  • GLOBALink | China balancing COVID-19 control, economic growth

    BEIJING, March 30 (Xinhua) -- China's dynamic zero-COVID approach has proved effective and necessary in curbing the spread of the virus despite the recent flare-ups of the epidemic in multiple places across the country.

    Meanwhile, timely containment of the spread of the epidemic allows business operations and people's daily activities to return to normal as soon as possible, without seriously affecting the society and the economy.

    Produced by Xinhua Global Service

  • External Merchandise Trade of Georgia in 2016

    External Merchandise Trade (excluding non-declared trade) of Georgia amounted to USD 11985 million in 2016 (preliminary data), grew by 21 percent from the same period of the previous year. The value of export decreased by 4 percent reaching USD 2114 million, while the import grew by 28 percent and amounted to USD 9871 million with respect to of the previous year. The trade deficit equaled USD 7757 million and its share in trade turnover constituted 65 percent.
    Import without C hepatitis medicaments equaled USD 7252 million 0.4 percent less compared to the same period of the previous year.

  • Training for Geostat staff
    The large-scale training is being held for the field staff of the Agricultural Statistics Division of National Statistics Office of Georgia, with the assistance and financial support of the United States Department of Agriculture (USDA). 
    The training encompasses the methodology of sample survey of agricultural holdings, filling in the questionnaires, online data entry and issues of improving communication with respondents. In the learning process, field staff members are also provided with information on the updated sampling frame as a result of 2014 Agricultural Census and other novelties regarding the survey. The staff members of Agricultural and Environment Statistics Division of Geostat conduct the trainings. 
    The management of Geostat attended the current training. According to Ms. Meri Daushvili, the Executive Director of Geostat, conducting such kinds of meetings is very important. She pointed out that the main objective of the training is to increase the qualification of staff members and improve the quality of statistical data in the field of agriculture. 
    The training will be held in two stages – for the field staff of Western and Eastern Georgia. In sum, up to 400 staff members of Geostat will participate in the training.
  • Gross Domestic Product of Georgia in 2015

    As a result of annual adjustment, the 2015 Gross Domestic Product (GDP) of Georgia at current prices totaled GEL 31 755.6 mil., up by 8.9 percent y-o-y.
    In the same period the real growth of GDP amounted to 2.9 percent and the deflator increased by 5.9 percent y-o-y.
    The largest shares of GDP by activity are held by Industry (16.8 percent) and Trade services (16.7 percent), followed by Transport and communication services (10.5 percent), Public administration (9.3 percent), Agriculture, forestry and fishing (9.1 percent), Construction (7.9 percent) and Health and social work (6.0 percent).
    Real growth was registered in Mining and Quarrying (22.4 percent), Construction (13.5 percent), Financial intermediation (10.2 percent), Other community, Social and Personal Service Activities (8.5 percent), Hotels and restaurants (7.5 percent), Real estate, renting and business activities (6.0 percent).
    A decrease in the real value-added was recorded Manufacturing (2.4 percent).

  • Geostat was awarded for providing public information accessibility
    Institute for Development of Freedom of Information (IDFI) named National Statistics Office of Georgia (Geostat) as the most open and transparent public institution in 2016 and award for “providing public information accessibility”. 
    Institute for Development of Freedom of Information (IDFI) and Open Society Georgia Foundation held a conclusive event on information freedom situation in Georgia during 2010-2016 years. IDFI has been organizing the award ceremony for 7 years. National Statistics Office of Georgia achieved the highest level of public information accessibility and was awarded for the third time. 
    The event was attended by the representatives of Government of Georgia, LEPSs, diplomatic corps accredited in Georgia, NGOs and media.

Business News

Silk Road Tbilisi Forum 2015 has started

Silk Road Tbilisi Forum 2015 has started

Silk Road Tbilisi 2015 forum started today. Following the success of the inaugural Routes Silk Road...

Agreement between SES and GEE

Agreement between SES and GEE

A new multi-year agreement was signed between worldwide satellite operator SES and Global Eagle Ente...

Visa free regime to impose for 15 February

Visa free regime to impose for 15 February

The visa regime imposed by Georgia to Iran has been cancelled for 15 February,” -the Deputy Ambassad...

USA to allocate 63 million US dollars for Georgia

USA to allocate 63 million US dollars for Georgia

U.S. Department of State to allocate 63 million US dollars for Georgia. According to the budgetary d...

MOST READ

« May 2023 »
Mon Tue Wed Thu Fri Sat Sun
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31        

About

The News Agency,
NEWSDAY.GE is
a part of STARVISION
Media Group.
It made its first
appearance on the Internet..More

 

Contact

NEWSDAY Ltd.
Lechkhumi street.43

Georgia,Tbilisi

Phone: (+995 32) 257 91 11
E-mail: avtandil@yahoo.com

 

 

 

Social Media