108,7. 99,2. Indicators of external merchandise trade statistics in January- December, 2017. Indicator. Mil. US dollars.
30.01.2018
Rapid Estimates of Economic Growth, December 2017 The estimated real Gross Domestic Product (GDP) growth rate in December 2017 and in Q4 2017 amounted to 4.7 percent y-o-y. The estimated growth of real GDP equaled 4.8 percent in 2017.
Rapid estimations of economic growth, 2017 (%) 5.7
6.0
5.3 4.9
5.0
4.4
4.0
4.7
4.7
4.8
December
Q4 2017
Average of 2017
3.7
3.0 2.0 1.0 0.0
Q1 2017
Q2 2017
Q3 2017
October
November
In December 2017 the estimated real GDP growth, compared to the same period of the previous year, was registered in the following activities: Other community, social and personal service activities, Health and social work, Hotels and restaurants, Manufacturing. A decrease in the real value-added was registered in Electricity, gas and water supply, Communication, Transport and Construction.
Monthly Economic Statistics December 2017 Indicators of price statistics Indicator
Y-o-Y
Consumer Price Index (CPI) Producer Price Index (PPI) on the industrial goods
M-o-M 106,7 108,7
100.8 99,2
Indicators of external merchandise trade statistics in January- December, 2017 Indicator
Mil. US dollars
Exports of goods (FOB) Imports of goods (CIF) External merchandise trade turnover
Change (y-o-y, %)
2 728,0 7 979,4 10 707,4
29,1 9,4 13,8
External merchandise trade, 2017 (mil. US dollars) 900
845.3
800 706.2 700 589.0
600
621.8
638.3
645.5
733.1
766.8
689.8
644.8
596.4
502.5 500 400 300 200
220.8 176.8
178.9
211.6
215.2
230.8
212.5
100 0
Import
Export
236.1
257.5
262.7
288.2 236.7
Indicators of business statistics December Number of currently registered enterprises (unit)
3 611
Change of currently registered enterprises number (y-o-y, %)
2,3
Value Added Tax (VAT) payers’ turnover used in rapid estimations of economic growth (mil. GEL)
7 047,1
Growth of VAT payers’ turnover used in rapid estimations of economic growth (y-o-y, %)
12,4
Change of VAT payers' turnover used in rapid estimations of economic growth, 2017 (y-o-y, %) 25
20
20.7 17.7
17.1
16.7
17.2
16.0 15 14.6
14.0 13.8
10
10.3
5
0
Source: Ministry of Finance of Georgia.
13.7
12.4
Indicators of state budget, 2017 (mil. GEL) 1400 1 206.8 1200
1 060.6
1000 800 600
887.4
863.6 832.5 843.7 833.1 818.5 793.6 790.7 783.3 771.5 807.1 744.9 733.2 713.3 757.9 725.3 718.1
745.0 757.3 675.2 638.8 621.1
400 200 0
Expense
Revenue
Source: Ministry of Finance of Georgia.
Output of banking sector, 2017 (mil. GEL) 250 193.1
200 150.4 150
126.5
122.8
115.7
134.2
137.8
146.7 127.0
137.7
141.7
145.5
100 50 4.3
4.4
4.4
5.7
5.8
6.6
5.8
6.5
0
Commercial banks
. Source: National Bank of Georgia. Note: Preliminary data subject to revisions.
National Bank
5.5
10.7
7.8
8.5
Information Note Geostat produces monthly rapid estimations of real GDP growth rate 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 rate of real GDP. For those sectors, where preliminary monthly data do not exist (e.g. agriculture, non-observed economy etc.), the estimations are based on the data for previous periods. Furthermore, the data on VAT taxpayers’ turnover for the previous months might be updated on a monthly basis, resulting in corresponding adjustments of real GDP growth rate estimates.
Contact persons:
Levan Karsaulidze, Tel.: (+995 32) 236 72 10 (302). E-mail:
[email protected];
[email protected] Mariam Kavelashvili, Tel.: (+995 32) 236 72 10 (020). E-mail:
[email protected];
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