Georgia’s businesses enjoy 22.9b GEL turnover in Q1 of 2019, employ 663,800 people

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.