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Georgia records 4.8-pct economic growth in 2014

Xinhua, March 24, 2015 Adjust font size:

Georgia's gross domestic product (GDP) amounted to 29.2 billion lari (some 13.1 billion U.S. dollars) in 2014, increasing by 4.8 percent year-on-year, preliminary data from the government showed on Tuesday.

Meanwhile, Georgia's GDP per capita in 2014 stood at 6,500 lari (2,919 dollars), up 8.6 percent in comparison with the previous year, according to the data.

The growth was registered in such sectors as construction (13.5 percent), finance (10.1 percent), real estate (8.5 percent), communications (7.1 percent), transport (6.4 percent), and trade (6.1 percent) in 2014.

However, Georgia's real GDP growth rate declined to 0.5 percent year-on-year in January due to the depreciation of the Georgian currency and the weak growth of exports at the beginning of the year.

Earlier in the month, the Georgian government had revised the country's economic growth expectation in 2015 down to 2 percent from the initially forecasted 5 percent. Endi