The average monthly salary for a person employed in the business sector in the third quarter (Q3) of 2018 was 1,186.7 GEL. This was an increase of 43.2 GEL year-on-year (y/y), said the National Statistic Office of Georgia (Geostat).
Meanwhile, the average monthly salary for women in the business sector was 892.6 GEL, which is 55.4 GEL more compared to Q3 of 2017.
The amount of money businesses earned depended on the size of their enterprise, with people therefore receiving a larger salary if they were employed in a larger business compared to their smaller business counterparts.
Average monthly salaries based on the size of business:
In Q3 of 2018 people were mainly employed in the field of trade (25.7%), mining and quarrying (13.3%) and construction (10.7%) sectors.
Georgian businesses employed about 665,500 people (+3.3% y/y) in Q3 of 2018, of which 40% were women and 60% were men.
The majority of people employed in the business sector (64.1%) worked in Georgia’s capital of Tbilisi, which is regarded as the country’s economic hub.
The majority of people (41.6%) worked in small businesses, 36.8% were employed in large business, and the remaining 21.6% worked in medium-sized businesses, said the statistics agency.
The turnover enjoyed by Georgia’s business sector is increasing, reaching 21.8 billion GEL in the Q3 of 2018. This was 17.3% more year-on-year (y/y).
The value of production generated by the business sector also grew to reach 10.7 billion GEL. This was 5.6% higher y/y.
Large businesses made up the majority of total turnover (44.3%), followed by small businesses (32.1%), and then medium-sized businesses (23.6%).
Additionally large businesses made up 39.3% of total production value, small business generated 34.8% of total production value and medium-sized businesses made up 25.9% of total production value.