Q4 2016: Georgia’s businesses enjoy 17.4b GEL turnover

The US trade mission’s visit was supported by Georgia’s Embassy to the US and Georgia’s Ministry of Foreign Affairs. Photo by N.Alavidze/Agenda.ge.
Agenda.ge, 06 Mar 2017 - 11:39, Tbilisi,Georgia

The turnover enjoyed by Georgia’s business sector is increasing, reaching 17.4 billion GEL in the fourth quarter (Q4) of 2016.

This was 15.3 percent more year-on-year (y/y), showed latest data by the National Statistics Office of Georgia (Geostat).

The value of production generated by the business sector also grew to reach 8.8 billion GEL in Q4 of 2016. This was 20 percent higher y/y.

Large businesses made up the majority of total turnover (81 percent), followed by medium-sized businesses (9.4 percent) then small businesses (9.6 percent), said Geostat.

Additionally large businesses made up 79 percent of total production value, medium-sized businesses generated 11.3 percent of total production value and small businesses made up 9.7 percent of this.

How many people are employed in the business sector?

About 620,800 people were employed in Georgian businesses in Q4 of 2016 – a 6.2 percent increase y/y, said Geostat.

Of these employed people, 40.7 percent were women and 59.3 percent were men.

The majority of people (61.3 percent) worked in large businesses, 22.1 were employed in small businesses and the remaining 16.6 percent worked in medium-sized businesses, said the statistics agency.

What is the average monthly salary in Georgia’s business sector?

The average monthly salary for a person employed in the business sector in Q4 of last year was 1,130.4 GEL. This was an increase of 85.8 GEL y/y.

Meanwhile the average monthly salary for women in the business sector was 819 GEL, which was 66.1 GEL more compared to the same quarter of 2015.

The amount of money earned by businesses depended on the size of their enterprise, with people receiving a bigger salary if they were employed in a bigger business compared to their smaller business counterparts.

  • Large businesses: 1,268.5 GEL per month
  • Medium-sized businesses: 1,110 GEL
  • Small businesses: 646.6 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 – 65.8 percent
  • Adjara – 9 percent
  • Imereti –6.9 percent
  • Kvemo Kartli – 5.5 percent
  • Samegrelo-Zemo-Svaneti – 3.6 percent