Q3 of 2020: number of people employed in Georgian businesses decreases 7.2%
Of 645,600 employed people 40.8% were women and 59.2% were men. Photo: Nino Alavidze/Agenda.ge.
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The number of people employed in the Georgian business sector in the third quarter of 2020 decreased 7.2% compared to the same period of 2019, totalling 645,600 people.
Of this number of employed people 40.8% were women and 59.2% were men.
The majority of people (46.9%) worked in small businesses, 42.5% were employed in large businesses, and the remaining 20.6% worked in medium-sized businesses, said the National Statistics Office of Georgia.
What is the average monthly salary in Georgia’s business sector?
The average monthly salary for a person employed in the business sector decreased by 10.3 GEL y/y in Q3 of 2020 and totalled 1,305.9 GEL.
Average monthly salaries based on the size of business:
- Medium-sized businesses: 1,487.6 GEL per month
- Large businesses: 1,297.2 GEL
- Small businesses: 1,186 GEL
The average monthly salary for women in the business sector was 998.3 GEL, which is 18.5 GEL more compared to the same period of 2018.
The turnover enjoyed by Georgia’s business sector increased by 0.6 % in the third quarter of 2020 and reached 29.2 billion GEL.
However, the value of production generated by the business sector decreased by 8.8% and reached 11.6 billion GEL.
Large businesses made up the majority of total turnover (57.1%), followed by small businesses (25.2%), and then medium-sized businesses (17.7%).
Additionally large businesses made up 40.3 % of total production value, small businesses generated 32.1% and medium-sized businesses made up 27.6%
The trade sector (including repair of motor vehicles and motorcycles) had the highest share (38.3 %) in the total turnover in business sector, followed by:
- Arts, entertainment and recreation - 28.4% share
- Manufacturing – 9.7%
- Construction – 7.9%
- Transportation and storage – 4.5%
- Electricity, gas, steam and air conditioning supply – 2.6%
- Other sectors - 8.7%
Manufacturing (23.7%), construction (20.7%), trade (18.8%) and transportation and storage (8.3%) make up the bulk of the country’s production value.
State-owned enterprises have lost about 130 million GEL in revenue due to the coronavirus pandemic reads the Fiscal Risk Analysis Document which accompanies the final version of the 2021 draft budget.
The government of Georgia has imposed further restrictions to curb the spread of the coronavirus in the country today, however to ease the burdens for businesses and the public the government has also announced supportive measures.
The turnover enjoyed by the Georgian business sector has decreased by 11.5 per cent (y/y) and amounted to 22.3 billion GEL in the second quarter of 2020, says the National Statistic Office of Georgia (Geostat).
The turnover enjoyed by Georgia’s business sector has increased by 13.5 per cent and reached 26 billion GEL in the first quarter of 2020, says the National Statistic Office of Georgia (Geostat). The value of production generated by the business sector also grew to reach 10.3 billion GEL. This was 8.4 per cent higher y/y.
Seven business associations have released a statement in response to the increase of natural gas prices for the commercial sector that are coming into effect on January 3, 2021 , saying that Tbilisi Energy’s decision is ‘not understandable amid the pandemic and the decision will also influence households as increasing prices for the business sector will increase costs and thus prices of products.’
The turnover received by the Georgian business sector increased by 2.1% (y/y) and amounted to 32 billion GEL in the fourth quarter of 2020, says the National Statistic Office of Georgia (Geostat).
Average monthly nominal earnings in Georgia decreased by 5 GEL (0.4%) in the fourth quarter (Q4) of 2020 compared to the same period of the previous year and amounted to 1,314.7 GEL, reports the National Statistics Office of Georgia (Geostat).