Q2 2020: Georgian businesses report 22.3 bln GEL in turnover, employ 599,500 people
The average monthly salary for a person employed in the business sector in the second quarter of 2020 decreased by 65.5 GEL (y/y). Photo: Nino Alavidze/Agenda.ge.
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The turnover enjoyed by the Georgian business sector has decreased by 11.5 per cent (y/y) and amounted to 22.3 billion GEL in the second quarter of 2020, says the National Statistic Office of Georgia (Geostat).
The value of production generated by the business sector also decreased by 18.3 per cent (y/y) and amounted to 9.2 billion GEL.
Large businesses made up the majority of total turnover (58.8 per cent), followed by small businesses (23.4 per cent), and then medium-sized businesses (17.8 per cent).
Moreover, large businesses made up 43.7 per cent of total production value, small businesses generated 30.6 per cent of total production value and medium-sized businesses made up 25.7 per cent of total production value.
How many people are employed in the business sector?
Georgian businesses employed about 599,500 people in the second quarter of 2020.
The number of people employed in the Georgian business sector decreased by 7.2 per cent compared to the same period of 2019.
The majority of people employed in the business sector (66.1 per cent) worked in Georgia’s capital of Tbilisi, which is regarded as the country’s economic hub.
The majority of people (41.4 per cent) worked in large businesses, 36.1 per cent were employed in small business, and the remaining 22.5 per cent worked in medium-sized businesses, said the statistics office.
What is the average monthly salary in Georgia’s business sector?
The average monthly salary for a person employed in the business sector in the second quarter of 2020 was 1,175 GEL. This was a decrease of 65.5 GEL (y/y).
Average monthly salaries based on the size of business:
- Medium-sized businesses: 1,290 GEL
- Large businesses: 1,204 GEL
- Small businesses: 1,055 GEL
The turnover enjoyed by Georgia’s business sector has increased by 13.5 per cent and reached 26 billion GEL in the first quarter of 2020, says the National Statistic Office of Georgia (Geostat). The value of production generated by the business sector also grew to reach 10.3 billion GEL. This was 8.4 per cent higher y/y.
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Georgian businesses employed about 696,000 people in the third quarter of 2019, of which 40.9 per cent were women and 59.1 per cent were men.
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Georgian businesses employed about 687,900 people in the second quarter of 2019, of which 41.1 per cent were women and 58.9 per cent were men.
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The turnover enjoyed by Georgia’s business sector is increasing, reaching 22.9 billion GEL in the first quarter (Q1) of 2019. This was 2.7.5% more year-on-year (y/y).
The number of people employed in the Georgian business sector in the third quarter of 2020 decreased 7.2% compared to the same period of 2019, totalling 645,600 people. Of this number of employed people 40.8%were women and 59.2% were men.
The turnover received by the Georgian business sector increased by 2.1% (y/y) and amounted to 32 billion GEL in the fourth quarter of 2020, says the National Statistic Office of Georgia (Geostat).