Average salaries in Georgia up 11.3% in Q4 2021
In the reported period, average earnings for women reached 1,153.6 GEL ($359.9/€325.2), while men earned 1,767.9 GEL ($551.6/€498.4) per month. Photo: Nino Alavidze/Agenda.ge
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Average monthly earnings in Georgia increased by 149.1 GEL ($46.5/€42) in the fourth quarter of 2021, a 11.3 percent increase compared to the same period of the previous year, and amounted to 1,463.8 GEL ($456.5/€412.7), data from the National Statistics Office of Georgia (Geostat) show.
The highest monthly earnings were observed in the following fields:
- Financial and insurance activities - 2,431.6 GEL ($758.6/€685.6) (+20.5%)
- Information and communication - 2,270.2 GEL ($708.2/€640.2) (+3.2%)
- Construction - 2,209.5 GEL ($689.3/€623.1) (+7.2%)
- Professional, scientific and technical activities - 2,133.0 GEL ($665.5/€601.4) (+5.5%)
In the reported period, average earnings for women reached 1,153.6 GEL ($359.9/€325.2), while men earned 1,767.9 GEL ($551.6/€498.4) per month, with the annual growth for women amounting to 131.3 GEL ($40.9/€37) - a 12.8 percent increase - and 186.4 GEL ($58.1/€52.5) for men, an 11.8 percent increase.
Image: Geostat
In the majority of sectors of the economy, the average monthly earnings of men were higher compared to women,” Geostat said.
The average monthly salaries of employees in the business sector increased by 180.9 GEL ($56.4/€50.9) and totalled 1,597.8 GEL ($498.2/€450.2) in the fourth quarter of 2021, while in the non-business and financial sector the figure also increased by 93.4 GEL ($29.1/€26.3) equalling to 1,250.6 GEL ($390.1/€352.4).
The highest monthly earnings were observed in:
- Arts, entertainment and recreation - 2,502.3 GEL ($780.7/€705.4) (+18.4%)
- Professional, scientific and technical activities - 2,394.2 GEL ($747/€674.9) (+3.2%)
In February 2022, the Consumer Price Index in Georgia increased by 0.9 percent month-on-month, while the annual inflation rate totalled 13.7 percent.
Remittances to Georgia from abroad reached $183.4 million in February 2022, marking a 13.7 percent increase compared to the same month of last year, the National Bank of Georgia (NBG) announced on Tuesday.
Macroeconomic parameters in Georgia are “very healthy and stable” and depreciation of the Georgian lari exchange rate is mainly caused by “emotional factors,” Georgian Economy Minister Levan Davitashvili said on Tuesday.
The Consumer Price Index in Georgia increased by 0.9 percent in February 2022 month-on-month, while the annual inflation rate totalled 13.7 percent, the latest inflation data of the National Statistics Office of Georgia (Geostat) shows.
The estimated real Gross Domestic Product (GDP) of Georgia increased by 18 percent in January 2022 year-on-year, the latest data from the National Statistics Office of Georgia (Geostat) shows.
The nominal gross domestic product (GDP) of Georgia amounted to 60.23 billion GEL ($18.7bln/€16.94bln) in 2021, up by 22.3 percent year-on-year, while the real growth of GDP also increased by 10.4 percent, the preliminary data from the National Statistics Office of Georgia (Geostat) show.
An increase in prices of construction materials in the market due to the global pandemic and the ongoing war in Ukraine was the focus of a meeting between Georgian Economy Minister Levan Davitashvili and representatives of Georgian construction companies on Monday.
The Construction Cost Index in Georgia increased by 13.6 percent in the fourth quarter of 2021 compared to the same period of the previous year, the National Statistics Office of Georgia (Geostat) announced on Thursday.
The Consumer Price Index in Georgia increased by 2.5 percent in March month-on-month, while the annual inflation rate equalled 11.8 percent, the National Statistics Office of Georgia (Geostat) announced on Monday.