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.