Turnover volume in business sector increases in Georgia

Tenders Materials 5 March 2020 15:18 (UTC +04:00)
Turnover volume in business sector increases in Georgia

BAKU, Azerbaijan, March 5

By Tamilla Mammadova – Trend:

The turnover volume in business sector in Georgia increased by 21.7 percent and amounted to 31.4 billion lari ($11.3 billion) in the fourth quarter of 2019 compared to the same quarter of previous year, Trend reports referring to Georgian National Statistical Office (Geostat).

As reported, the production value of the business sector is characterized by the growth tendency.

In the fourth quarter of 2019, its volume equaled to 13.4 billion lari ($4.8 billion), which is year-on-year 15.7 percent higher.

During the reporting period, 52.7 percent of total turnover came on large business, 20 percent – on medium business, and 27.4 percent accounted for small business. In terms of total production value, 36.2 percent accounted for large business, while 27.3 percent and 36.5 percent - for medium and small businesses, respectively.

The total purchases of goods and services carried out by enterprises equaled to 19.3 billion lari ($6.9 billion), 16.8-percent increase year-on-year, while the purchase of goods and services for resale amounted to 11.7 billion lari ($4.2 billion), higher by 14.7 percent year-on-year.

In the fourth quarter of 2019, the average number of employees in the sector equaled to 713,900, which is higher by 4.3 percent compared to the same period in 2018. Out of the total number of employees, 41.7 percent are female and 58.3 percent are male.

Some 36.2 percent of total number of employees comes on large, 21.7 percent – on medium, and 42.1 percent - on small businesses.

In the fourth quarter of 2019, average monthly remuneration of the employees equaled to 1,404 lari ($506.21), which year-on-year increase by 86 lari ($31.01), while remuneration of employed women made up 1,048 lari ($377.86), showing year-on-year increase by 71.1 lari ($25.64).

Average monthly remuneration of employed persons in large business reached 1,365 lari ($492.15), medium business – 1,603 lari ($577.96), and small business – 1, 325 lari ($477.73).


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