Georgian GDP grows 6.4% in 2010
TBILISI. March 21 (Interfax) - Gross domestic product (GDP) in Georgia expanded 6.4% last year after contracting 3.8% the year before, the National Statistics Service told Interfax.
Nominal GDP was 20.791 billion lari (around $12 billion).
As reported, the Georgian Finance Ministry projected GDP would grow 6% in 2010, the World Bank and European Bank for Reconstruction and Development (EBRD) expected 5.5% growth, and the International Monetary Fund (IMF) 6.3%.
GDP grew 6% year-on-year in Q4 2010 to 6.058 billion lari for the quarter, the service reported.
Per capita GDP last year was 4,686.5 lari versus 4,101.3 lari in 2009.
Industry accounts for 16.9% of GDP, trade for 16.6%, state management for 13%, transport and communications for 11.6%, and agriculture for 8.4%. The most growth seen last year was in the processing industries (20.3%), financial broking (14.7%), trade (14.1%), transport (13.1%), the hotel and restaurant business (12.9%), real estate (8.6%), and construction (7.6%).
The Georgian Finance Ministry anticipates GDP growth of 4.5%-6.5% this year, the IMF - 5.5%, the EBRD and World Bank - 4%.
The official exchange rate for March 21: 1.707 lari /$1.