The turnover enjoyed by the Georgian business sector has decreased by 11.5 per cent (y/y) and amounted to 22.3 billion GEL in the second quarter of 2020, says the National Statistic Office of Georgia (Geostat).
The value of production generated by the business sector also decreased by 18.3 per cent (y/y) and amounted to 9.2 billion GEL.
Large businesses made up the majority of total turnover (58.8 per cent), followed by small businesses (23.4 per cent), and then medium-sized businesses (17.8 per cent).
Moreover, large businesses made up 43.7 per cent of total production value, small businesses generated 30.6 per cent of total production value and medium-sized businesses made up 25.7 per cent of total production value.
Georgian businesses employed about 599,500 people in the second quarter of 2020.
The number of people employed in the Georgian business sector decreased by 7.2 per cent compared to the same period of 2019.
The majority of people employed in the business sector (66.1 per cent) worked in Georgia’s capital of Tbilisi, which is regarded as the country’s economic hub.
The majority of people (41.4 per cent) worked in large businesses, 36.1 per cent were employed in small business, and the remaining 22.5 per cent worked in medium-sized businesses, said the statistics office.
The average monthly salary for a person employed in the business sector in the second quarter of 2020 was 1,175 GEL. This was a decrease of 65.5 GEL (y/y).