The National Statistics Office of Georgia published updated data, according to which the country's GDP grew by 4.7% in 2018, slowing down compared with a 4.8% rise in 2017. The nominal GDP of 41 billion 77.5 million lari exceeded its volume in 2017 by 8.5%. The share of trade and industry accounted for 17% of GDP. At the same time, the financial sector demonstrated the most significant growth - by 13.5%. It is followed by the sphere of public and social services with a growth rate of 13.2%. Growth has also been noted in the hotel and restaurant business, mining, commerce and other areas. At the same time, a decrease of 3.1% was shown by the construction sector. The Georgian government estimates that the country's economy will grow by 4.5% in 2019.
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
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The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
On Thursday, the international market had seen a plummet in the value of Asian shares and U.S. stock futures. It is seen to be caused by worries of a falling-out between the United States and China as well as the hit that global economies ...