Q2 2016: Georgia’s businesses enjoy 14.2 b GEL turnover
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More money is flowing into the Georgian economy thanks to growing business earnings, latest quarterly figures show.
Data released by the National Statistics Office of Georgia (Geostat) revealed in the second quarter (Q2) of 2016, Georgia’s business sector enjoyed 14.2 billion GEL turnover. This was 10.8 percent more year-on-year (y/y).
The value of production generated by the business sector also grew and amounted to 7.5 billion GEL in Q2 of 2016. This was 7.5 percent higher y/y.
Large businesses made up the majority of total turnover (79.1 percent), followed by small businesses (11.3 percent) and medium-sized businesses (9.6 percent), Geostat said.
Additionally large businesses made up 78.7percent of total production value, small businesses generated 10.8 percent of total production value and medium-sized businesses made up 10.5 percent of this.
How many people are employed in the business sector?
About 601,000 people were employed in Georgian businesses in Q2 – a 5.7percent increase y/y, said Geostat.
Of these employed people, 40.6 percent were women and 59.4 percent were men.
The majority of people (60.9 percent) worked in large businesses, 24.7 were employed in small businesses and the remaining 14.4 percent worked in medium-sized businesses, said the statistics agency.
What is the average monthly salary in Georgia?
The average monthly salary for a person employed in the business sector in Q2 of 2016 was 978.1 GEL. This was an increase of 35.9 GEL y/y.
Meanwhile the average monthly salary for women in the business sector was 727.5GEL, or 37.4 GEL more compared to the same quarter of last year.
The amount of money earned by businesses depended on the size of their enterprise, with larger businesses earning more than their smaller counterparts.
- Large businesses: 1,148 GEL per month;
- Medium-sized businesses: 783 GEL;
- Small businesses: 582 GEL.
Number of employees per region
Most people employed in the business sector worked in Georgia’s capital Tbilisi, which was regarded as the country’s economic hub.
Geostat revealed the number of employees by region:
- Tbilisi – 71 percent;
- Adjara – 7.6 percent;
- Kvemo Kartli – 6 percent;
- Imereti – 4.7 percent;
- Samegrelo-Zemo-Svaneti – 3.2 percent.
Meanwhile, Geostat’s annual employment data of 2015 said 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.
About 1.8 million people were employed in Georgia last year and most of them were self-employed.
A study has been carried out to determine the most in demand jobs in Georgia.
The number of new businesses registered in Georgia is on the rise, showing more investors are attracted to the favourable business environment Georgia has created.
Turnover from Georgia’s business sector is increasing, reaching 13.9 billion GEL in the third quarter (Q3) of 2015.
600 services available in one place
Georgia is introducing a completely new model for effective state-business relations by starting to construct the first Business House that unites more than 600 state services needed for the business community.
Today Georgia’s Economy Minister Dimitry Kumsishvili announced 10 percent more people were employed in Georgia’s trade sector in the second quarter (Q2) of 2016 compared to the same period of 2015.
But men earn more than women
Latest quarterly figures from the National Statistics Office of Georgia (Geostat) showed men earned about 400 GEL more than women each month.
Georgia is top performer in Eurasia
Georgia has one of the most improved economies in Eurasia, says the Global Competitiveness Report 2016–2017, which also forecast Georgia’s economy will grow more than other Eurasian countries this year.
The turnover enjoyed by Georgia’s business sector is increasing, reaching 15.5 billion GEL in the third quarter (Q3) of 2016.
The turnover enjoyed by Georgia’s business sector is increasing, reaching 17.4 billion GEL in the fourth quarter (Q4) of 2016.
The turnover enjoyed by Georgia’s business sector is increasing, reaching 15.2 billion GEL in the first quarter (Q1) of 2017.
The turnover enjoyed by Georgia’s business sector is increasing, reaching 16.6 billion GEL in the second quarter (Q2) of 2017. This was 16.9 percent more year-on-year (y/y), showed latest data by the National Statistics Office of Georgia (Geostat).