More employed in Georgia’s business sector, Geostat
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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.
The National Statistics Office of Georgia, Geostat, noted at the end of 2014, about 25 percent more women were employed in the country’s trade sector than in the same time of 2013. Female employment numbers were also higher in health and social work, real estate and education.
The number of Foreign Direct Investments (FDI) in Georgia has reached a five-year high.
The cost of living in Georgia is increasing, reflecting the increasing costs of basic food and services.
Georgia’s market economy is continuing to maintain sustainable growth, reveals the National Statistics Office of Georgia.
Georgia’s market economy is growing at a sustainable rate, reveals the National Statistics Office of Georgia.
Official statistics from the country’s national statistics office, Geostat, revealed at the end of 2014 the unemployment rate in Georgia was 12.4 percent – the lowest it has been in 11 years.
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).
Georgia’s business sector is growing in a range of directions, generating increased turnover and employing more people with higher salaries.
The European Union (EU) has launched a €1.1 million (4 million GEL) project in Georgia to get more people into the workforce.
Turnover from Georgia’s business sector is increasing, reaching 13.9 billion GEL in the third quarter (Q3) of 2015.
The Government of Georgia is taking action to reduce unemployment in the country by creating more jobs, in addition to reducing tax profit in Georgia.
About 1.8 million people were employed in Georgia last year and most of them were self-employed.
The turnover earned by Georgia’s businesses is increasing and reached 12.7 billion GEL in the first quarter (Q1) of 2016.