Q4 2017: Georgia’s businesses enjoy 21.1b GEL turnover
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The turnover enjoyed by Georgia’s business sector is increasing, reaching 21.1 billion GEL in the fourth quarter (Q4) of 2017. This was 21.5 percent more year-on-year (y/y).
The value of production generated by the business sector also grew to reach 10.5 billion GEL. This was 19.5 percent higher y/y, said the National Statistic Office of Georgia (Geostat).
Large businesses made up the majority of total turnover (44.3 percent), followed by small businesses (34 percent), and then medium-sized businesses (21.7 percent).
Additionally large businesses made up 38.8 percent of total production value, small business generated 35.9 percent of total production value and medium-sized businesses made up 38.8 percent of total production value.
How many people are employed in the business sector?
Georgian businesses employed about 660,100 people in Q4 of 2017, of which 40.1 percent were women and 59.9 percent were men.
The number of people employed in the Georgian business sector increased by 6.3 percent compared to the same quarter of 2016.
The majority of people employed in the business sector worked in Georgia’s capital of Tbilisi, which is regarded as the country’s economic hub.
The majority of people (41.9 percent) worked in small businesses, 35.7 percent were employed in large business, and the remaining 22.4 percent worked in medium-sized businesses, said the statistics agency.
What is the average monthly salary in Georgia’s business sector?
The average monthly salary for a person employed in the business sector in Q4 of 2017 was 1,241.5 GEL. This was an increase of 111.1 GEL y/y.
Meanwhile, the average monthly salary for women in the business sector was 909.3 GEL, which is 90.3 GEL more compared to Q4 of 2016.
The amount of money businesses earned depended on the size of their enterprise, with people therefore receiving a larger salary if they were employed in a larger business compared to their smaller business counterparts.
Average monthly salaries based on the size of business:
- Medium-sized businesses: 1,378.6 GEL per month
- Large businesses: 1,270 GEL
- Small businesses: 1,132.7 GEL
Georgian businesses employed about 643,900 people in quarter three (Q3) of 2017, of which 40.1 percent were women and 59.9 percent were men. The majority of people employed in the business sector worked in Georgia’s capital of Tbilisi, which is regarded as the country’s economic hub.
Georgian businesses employed about 666,800 people in 2016, of which 39.8 percent were women and 60.2 percent were men.
The turnover enjoyed by Georgia’s business sector is increasing, reaching 16.6 billion GEL in the second quarter (Q2) of 2017. This was 16.9 percent more year-on-year (y/y), showed latest data by the National Statistics Office of Georgia (Geostat).
The turnover enjoyed by Georgia’s business sector is increasing, reaching 15.2 billion GEL in the first quarter (Q1) of 2017.
The average monthly income in Georgia was 1,016 GEL (about $408.85/€348.77*) in 2017, shows the latest data published by the National Statistics Office of Georgia (Geostat).
Georgian businesses employed about 637,000 people in the first quarter (Q1) of 2018, of which 40.6 percent were women and 59.4 percent were men.
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The turnover enjoyed by Georgia’s business sector is increasing, reaching 19.9 billion GEL in the second quarter (Q2) of 2018. This was 19.7 percent more year-on-year (y/y).
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The turnover enjoyed by Georgia’s business sector is increasing, reaching 71.7 billion GEL in 2017. This was 12 per cent more year-on-year (y/y).
The average monthly salary in Georgia has increased by 56.4 GEL year-on-year and reached 1,125.5 GEL in the third quarter of 2018, show the latest data published by the National Statistics Office of Georgia (Geostat).
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men earning more than women
The average monthly salary in Georgia has increased by 61.1 GEL (about $22.80/€20.07) year-on-year and reached 1,202 GEL (about $448.51/€394.92) in the fourth quarter of 2018, show the latest data published by the National Statistics Office of Georgia (Geostat).