Georgia’s business sector enjoys increased turnover, reaching 13.9b GEL

Turnover from Georgia’s business sector is increasing, reaching 13.9 billion GEL in the third quarter (Q3) of 2015.

To compare, revenue generated in the business sector in Q1 2015 was 11 billion GEL.

Latest quarterly figures released by the National Statistics Office of Georgia, Geostat, stated in Q3 the value of production amounted to 7.1 billion GEL.

Large businesses made up the majority of total turnover (81.4 percent), followed by medium-sized businesses (9.9 percent) then small businesses (8.7 percent).

Additionally large businesses made up 80.5 percent of total production value, medium-sized businesses generated 10 percent of total production value and small businesses made up 9.5 percent of this.

How many people are employed in the business sector?

About 568,600 people were employed in Georgian businesses in Q3, of which 40.2 percent were women and 59.8 percent were men. The majority of people (60.2 percent) were employed in large businesses, noted Geostat.

What is average monthly salary in Georgia?

The total value of salaries for all businesses in Georgia for Q3 2015 reached 1.583 billion GEL. The average monthly salary in the business sector was 961.1 GEL for men, while for women this was 698.1 GEL.

The amount of money earned by businesses ranged on the size of their enterprise, with larger businesses earning more than their smaller counterparts. 

• Large businesses: 1,136.9 GEL per month;
• Medium-sized businesses: 818.4 GEL; and
• Small businesses: 545.7 GEL.

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

Number of employees per region

In terms of employment, the majority of people worked in Georgia’s capital Tbilisi which was regarded as the country’s economic hub. This comes as no surprise as Tbilisi is where many businesses are located.

Geostat revealed the number of employees by region:

• Tbilisi – 64.5 percent;
• Adjara – 9.3 percent;
• Imereti – 7 percent;
• Kvemo Kartli – 5.6 percent; and
• Samegrelo-Zemo-Svaneti – 4.1 percent.