The turnover received by the Georgian business sector increased by 33.2% YoY and amounted to GEL 38.6 billion (about $12.95 billion or EUR 12.05 billion) in the first quarter of 2022, the latest data published by the National Statistic Office of Georgia showed.
The trade sector (including repair of motor vehicles and motorcycles) had the highest share (36.6%) in the total turnover in the business sector, followed by arts, entertainment and recreation (30.4%), manufacturing (10.6%), construction (5%), transportation and storage (4.9%), electricity, gas, steam and air conditioning supply (4.3%).
The value of production generated by the business sector increased by 37% and amounted to GEL 14.1 billion (about $4.73 billion or EUR 4.4 billion).
Large businesses made up the majority of total turnover (66.4%), followed by small businesses (18.5%) and then medium-sized businesses (15.1%).
A small difference is in case of total production value: 49.1% falls on large, 27.5% – on small and 23.4% – on medium businesses.
In the first quarter of 2022, manufacturing (24.9%), trade (17.6%), construction (14.6%) and transportation and storage (9.5%) were in the top four in business sector production value.
Georgian businesses employed about 673,600 people in the first quarter of 2022, up by 8.2%, said Geostat.
Out of the total number of employees, 42.8% were female and 57.2% were male.
The majority of people (42.6%) worked in large businesses, 37% were employed in small business and the remaining 20.5% worked in medium-sized businesses, said the statistics office.
The average monthly salary for a person employed in the business sector in the first quarter of 2022 was GEL 1,479.7 (about $496.54 or EUR 461.98), up by GEL 196.2.
The remuneration of employed women made up GEL 1,186.8 (+GEL 168.2).
In the first quarter of 2022, trade (27.6%), manufacturing (13%) and human health and social work activities (10.9%) were leading in business sector by number of employees, said Geostat. (Agenda/Business World Magazine)