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Georgia sees increase in volume of business sector turnover

Business Materials 3 September 2021 17:23 (UTC +04:00)

BAKU, Azerbaijan, Sept. 3

Tamilla Mammadova – Trend:

The volume of business sector turnover increased by 56.7 percent in the second quarter of 2021 compared to the same quarter of the previous year in Georgian and amounted to 35 billion lari ($11.2 billion), Trend reports with reference to the National Statistical Office of Georgia (Geostat).

The production value of the business sector is characterized by the increasing tendency. In the second quarter of 2021, its volume equaled 13.2 billion lari ($4.2 billion), which is year-on-year 43.4 percent more.

In the reporting period, 61.4 percent of total turnover comes on large and 18.2 percent – on medium businesses while 20.4 percent is distributed to small businesses.

A small difference is in the case of total production value: 45.9 percent comes on large, 27.1 percent – on medium and 27 percent on small businesses.

In the second quarter of 2021, total purchases of goods and services carried out by enterprises equaled 19.2 billion lari/$6.1 billion (year-on-year 48.5 percent more), while the purchase goods and services for resale amounted to 11.8 billion lari/$3.7 billion (year-on-year 52 percent more).

In the second quarter of 2021, the average number of employees equaled 659,700, which is year-on-year 4.4 percent more. Out of the total number of employees, 42 percent are female and 58 percent are male.

Some 40.6 percent of a total number of employees comes on large, 22.6 percent – on medium and 36.8 percent - on small businesses.

The total number of employed persons amounted to 623,700 (year-on-year 4 percent more). The total personnel costs of enterprises equaled 2.64 billion lari ($849.3 million).

In the second quarter of 2021, the average monthly remuneration of employed persons equaled 1,389.6 lari ($447.07) while remuneration of employed women made up 1,098.4 lari ($353.38).

The average monthly remuneration of employed persons by the size of enterprises is as follows:

• Large business – 1,440.3 lari ($463.38)
• Medium business– 1,640.4 lari ($527.76)
• Small business – 1,144.9 lari ($368.34).

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