Turnover of Georgia’s business reaches 11 billion GEL

In the first quarter of 2015 the total turnover of enterprises in Georgia reached 11 billion GEL, while the production value amounted to 5.6 billion GEL, says Georgia’s National Statistics Office (Geostat).

Large businesses made up the majority of total turnover (82.8 percent), followed by small businesses (9.3 percent) then medium-sized businesses (7.9 percent).

Additionally large businesses made up 81.8 percent of total production value, small businesses made up 9.8 percent and medium-sized businesses generated 8.4 percent of total production value.

About 545,400 people were employed in Georgian businesses, of which 59.9 percent were men and 40.1 percent were women. The majority of people (60.6 percent) were employed in large businesses, noted Geostat.

The total value of salaries for all businesses in Georgia for the first four months of 2015 reached 1.350 billion GEL. The average monthly salary in the business sector was 851.7 GEL. The average monthly salary for women was 641.1 GEL.

The average monthly income for businesses ranged depending on the size of the enterprise. Large businesses generated an average monthly income of 1,018.5 GEL, medium-sized businesses earned 692.8 GEL and small business gained 470 GEL.

The main sectors of employment were trade and repair of vehicles, consumer products and personal care.

On another note, the Geostat data also showed at the end of 2014 the unemployment rate in Georgia was 12.4 percent – the lowest it has been in 11 years.

The 2014 unemployment rate was a decline of 2.2 percent on 2013 figures, when the country experienced 14.6 percent unemployment. Since 2006 unemployment in Georgia went from 13.6 percent, peaked in 2009 at 16.9 percent and has continuously dropped each year since then.

Meanwhile, one of America’s largest accounting and advisory firms, Grant Thornton revealed women were now occupying more senior management positions in Georgia than in previous years. Grant Thornton’s research revealed that 38 percent of senior business roles in Georgia were occupied by women.