The National Statistics Office of Georgia (GEOSTAT) released the latest gross domestic product data, which said the domestic economy grew 5.5 percent in July year-on-year and 7.2 percent in the first seven months of 2023.

The Deputy Economy Minister said the growth of investment activities, as well as the positive trends observed in the trade of goods and tourism, were contributing factors to the growth. 

Statistics show the GDP growth was mainly driven by estimated real growth in financial and insurance activities, construction, trade, professional, and scientific and technical sectors.

Vakhtang Tsintsadze also noted exports grew by 15.9 percent y/y in January-July and reached $3.58 billion.