The FINANCIAL — First Vice Prime Minister, the Minister of Economy and Sustainable Development of Georgia, Dimitry Kumsishvili evaluated the GDP preliminary indicators for October as well as the first 10 months of 2017, according to which the real growth of gross domestic product, compared to the same period of the previous year, in October 2017 amounted to 5.7% while the average growth rate for the first ten months of 2017 equaled to 4.9%.
The First Vice Prime Minister positively assessed the dynamics of export, which accounted the export growth for 92% of copper and concentrates, 53% of ferroalloys, 45% of mineral and fresh waters and 40% of wine from Georgia.
According to Dimitry Kumsishvili, in October 2017, the net export contribution of goods amounted to 1.6% in GDP growth while the actual net exports of goods increased by 9%.
As the First Vice Prime Minister added, in October 2017, real GDP growth was observed in the following fields: Manufacturing Industry – growth of 9.7%, contributing 1.1% to real growth; Finances – growth of 13.4%, contributing 0.4% to real growth; Hotels and Restaurants – growth of 20.2%, contributing 0.4% to real growth and others, according to Ministry of Economy and Sustainable Development of Georgia.
In addition, as of January-October 2017, the export rate, compared to the same period of the previous year, amounted to 29.4%, which is 2.2 billion USD in nominal value, – the Minister of Economy and Sustainable Development of Georgia, Dimitry Kumsishvili stated.