Tbilisi: The Georgian business sector’s turnover has grown by 31.5% (y/y), amounting to ₾150.4 billion (about $53.25 bln) in 2021, as per the recent publication by the National Statistic Office of Georgia.
Also, the production value generated by the business sector increased by 24.6%(y/y), reaching ₾57.6 billion (about $20.39 bln).
The trading sector( inclusive of motor vehicles and motorcycle repairs) constituted the largest share(36.4%) of the total turnover in the business sector. The other contributing sectors namely- Arts, entertainment and recreation – 32% share ; Manufacturing(9.8%) ; Construction(5.5%) ; Transportation and Storage(4.6%) ; Electricity, gas steam and air conditioning supply(3.2%) and Other sectors forming 8.5%.
The large businesses formed the majority of total turnover(65.3%), followed by small businesses(18.5%) and then medium-sized businesses(16.2%).
Some differences in the case of total production value were recorded as follows: 46.8% for large businesses, 28.7% for small and medium businesses(24.4%).
Last year, manufacturing (24.4%), trade(18.4%), construction(15.8%) and transport and warehousing (8.8%) secured the top four positions in the business sector’s production value.
The business sector of Georgia provided employment to nearly 744,300 people in 2021, marking a 5.7% (y/y) increase. Additionally, 42 per cent were female, and males constituted 58%.
The majority population(38.2%) were employed in large businesses; small businesses employed 42.1%, and medium businesses(19.7%).
The average monthly remuneration for a person employed in the business sector in 2021 amounted to ₾1,347.6 (about $477.10). This was an increase of ₾124.7 ($44) y/y. At the same time, salaries for women made up ₾1,064.3 ($376.80), which was increased by ₾112.3 ($39.76) y/y.