Q4 2020: Georgian businesses report 32 bln GEL in turnover, employ 641,600 people
Georgian businesses employed about 641,600 people in the fourth quarter of 2020, which is year-on-year 10.1% less, said Geostat. Photo: Nino Alavidze/Agenda.ge.
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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).
The trade sector (including repair of motor vehicles and motorcycles) had the highest share (35.9%) in the total turnover in the business sector, followed by:
- Arts, entertainment and recreation - 31.3% share
- Manufacturing – 9.3%
- Construction – 7.8%
- Transportation and storage – 4.5%
- Electricity, gas, steam and air conditioning supply – 3%
The value of production generated by the business sector decreased by 7.3% (y/y) and amounted to 12.4 billion GEL.
Large businesses made up the majority of total turnover (60.9%), followed by small businesses (22%), and then medium-sized businesses (17.1%).
Moreover, large businesses made up 40.6% of total production value, small businesses generated 31.7% of total production value and medium-sized businesses made up 27.8% of total production value.
In the fourth quarter of 2020, manufacturing (23.7%), construction (21.6%), trade (17.7%) and transportation and storage (8.4%) were in the top four in business sector production value.
How many people are employed in the business sector?
Georgian businesses employed about 641,600 people in the fourth quarter of 2020, which is year-on-year 10.1% less, said Geostat.
Out of the total number of employees, 41.1% were female and 58.9$ were male.
The majority of people employed in the business sector (66%) worked in Georgia’s capital of Tbilisi.
The majority of people (41.2%) worked in large businesses, 36% were employed in small business, and the remaining 22.8% worked in medium-sized businesses, said the statistics office.
Trade (wholesale and retail trade, repair of motor vehicles and motorcycles), manufacturing and human health and social work activities were leading in the business sector by number of employees, with 26.6%, 13.3% and 11.2% shares accordingly.
What is the average monthly salary in Georgia’s business sector?
The average monthly salary for a person employed in the business sector in the fourth quarter of 2020 was 1,417 GEL. This was a decrease of 12.2 GEL (y/y).
Average monthly salaries based on the size of business:
- Medium-sized businesses: 1,632.6 GEL
- Large businesses: 1,439.6 GEL
- Small businesses: 1,228.4 GEL
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.
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).
Georgia has reported 355 new cases of Covid-19 after conducting a total of 19,737 tests over the last 24 hours, including 12,307 rapid tests and 7,430 PCR tests. Meanwhile, 91 individuals have recovered and four patients have died.
Georgia has reported 234 new cases of coronavirus, 349 recoveries and nine deaths over the last 24 hours. Meanwhile, a total of 15,919 tests have been conducted, including 6,210 rapid tests and 9,709 PCR tests.
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).
Average monthly nominal earnings in Georgia increased by 53.5 GEL (4.4%) in the first quarter of 2021 compared to the same period of the previous year and amounted to 1,256.2 GEL (about $397.53/€327.83), reports the National Statistics Office of Georgia (Geostat).
The turnover received by the Georgian business sector increased by 4.9% (y/y) and amounted to 114.3 billion GEL in 2020, says the National Statistic Office of Georgia (Geostat). The value of production generated by the business sector increased by 2.7% (y/y) and amounted to 46.2 billion GEL. Large businesses made up the majority of total turnover (58.3%), followed by small businesses (23.8%), and then medium-sized businesses (17.9%).