Q3 of 2021: average salary in Georgia up 10.4%
Geostat reports that in the majority of sectors, the average monthly earnings of men were higher compared to women. Photo: Nino Alavidze/Agenda.ge.
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The average monthly salary in Georgia in the third quarter of 2021 has increased by 129 GEL (about $41/€36) compared to the same period last year, totalling 1,368.5 GEL ($441/€392), the latest data of the National Statistics Office of Georgia (Geostat) show.
The highest monthly earnings were observed in the following fields:
- Financial and insurance services – 2,234.9 GEL (+10.4%)
- Information and communication – 2,193.7 GEL (+2%)
- Professional, scientific and technical activities – 2,003.6 GEL (+4.9%)
- Construction – 2,003.1 GEL (+6.8%)
Image: Geostat.
Geostat reports that in the majority of sectors, the average monthly earnings of men were higher compared to women.
The data shows that men earned almost 505 GEL (about $163/€144) more than women each month in the third quarter of 2021.
The annual growth of earnings amounted to 128.2 GEL (13.1%) for women and 139.6 GEL (9.5%) for men,” Geostat says.
The average monthly earnings of employees in the business sector increased by 149.7 GEL (11.5%) for a total of 1,455.5 GEL.
The Consumer Price Index in November 2021 grew by 0.6% compared to the previous month, while the annual inflation rate in Georgia stood at 12.5%, the latest inflation data of the National Statistics Office of Georgia (Geostat) show.
Georgia's estimated GDP increased in October 2021 compared to the same period last year, and totalled 6.9% year-on-year, while in January-October of 2021 year-on-year growth amounted to 10.5%, preliminary data of the National Statistics Office of Georgia (Geostat) show.
The unemployment rate in Georgia has increased by 2.5% in the third quarter of 2021 compared to the same period of last year, amounting to 19.5%, the National Statistics Office of Georgia (Geostat) reports.
The inflation rate in Georgia will return to 3% by the end of 2022, Economy Minister Natia Turnava stated earlier today, noting that high inflation is ‘one of the most important issues’ the Georgian population currently faces.
The National Bank of Georgia (NBG) has increased the refinancing rate by 0.5 percentage points to 10.5% earlier today at the Monetary Policy Committee (MPC). The NBG states that increased inflation has been one of the main challenges for Georgia in recent years.