More employed in Georgia’s business sector, Geostat

The Georgian business sector is on an upward trend thanks to more people getting involved in the workforce, combined with an increase in fishing, mining, agriculture and construction activities, latest statistics reveal.

Data released by Geostat, the National Statistic Office of Georgia, noted the local business sector enjoyed a 7.2 percent increase in turnover in Q4 (fourth quarter) 2014, when compared to the same time in 2013.

In Q4 2014, the total revenue of enterprises amounted to 13 billion GEL, while the production value reached 6.8 billion GEL.

The most noticeable increase in economic activities was observed in the fields of fishing (37.1 percent), mining (21.9 percent), agriculture (19.4 percent) and construction (18 percent).

At the end of 2014, the business sector’s activities generated about 51.4 percent of the country’s total turnover. In this sense, repair of motor vehicles and personal household goods made up 13.1 percent of total trade turnover, transport and communication made up 10.9 percent and construction made up 8.8 percent.

In terms of production value, manufacturing took the leading position with products in this sphere equalling 25 percent, construction generated 17 percent and transport and communication made up 14 percent of total production value in Q4 2014.

On another note, the Geostat data also showed 534,952 people were employed in Georgia’s business sector in Q4 2014 – a three percent increase on the same time in 2013. In particular, employee numbers increased in sectors where an increase in turnover and production value was experienced.

In terms of employment, the majority of people worked in Tbilisi (65.1 percent) – which was revealed as the country’s economic hub. The next highest concentration of employment was observed in Adjara region (8.8 percent), Imereti region (7 percent), Lower Kartli (5.7 percent), followed by Samegrelo Upper Svaneti (4.4 percent). The average monthly salary reached 980.5 GEL, claimed Geostat.