The turnover enjoyed by Georgia’s business sector is increasing, reaching 22.9 billion GEL in the first quarter (Q1) of 2019. This was 2.7.5% more year-on-year (y/y). The value of production generated by the business sector also grew to reach 9.5 billion GEL. This was 9% higher y/y, said the National Statistic Office of Georgia (Geostat). Large businesses made up the majority of total turnover (54.5%), followed by small businesses (28.1%), and then medium-sized businesses (17.4%). Additionally large businesses made up 41.3% of total production value, small business generated 33.9% of total production value and medium-sized businesses made up 24.8% of total production value. How many people are employed in the business sector? Georgian businesses employed about 663,800 people in the Q1 of 2019, of which 42.3% were women and 57.7% were men. The number of people employed in the Georgian business sector increased by 4.2% compared to the same period of 2018. The majority of people employed in the business sector (64.6%) worked in Georgia’s capital of Tbilisi, which is regarded as the country’s economic hub. The majority of people (46.9%) worked in small businesses, 42.5% were employed in large business, and the remaining 20.6% worked in medium-sized businesses, said the statistics agency. What is the average monthly salary in Georgia’s business sector? The average monthly salary for a person employed in the business sector in Q1 of 2019 was 1,151.9 GEL. This was an increase of 45.5 GEL y/y. Average monthly salaries based on the size of business: Medium-sized businesses: 1,291.2 GEL per month Large businesses: 1,205.6 GEL Small businesses: 1,017 GEL Meanwhile, the average monthly salary for women in the business sector was 934.2 GEL, which is 93.1 GEL more compared to the same period of 2018. source: agenda.ge
