Volume of business sector turnover increases by 26.6%

The volume of business sector turnover in Quarter II 2019 increased by 26.6 percent and amounted to GEL 25.2 billion.

The information was released by Georgia’s National Statistics Office (Geostat). The data reads that the production value of the business sector is characterized by the growth tendency. And in the II quarter of 2019, its volume equaled to 11.2 billion GEL, which is year-on-year 12.0 percent higher.

In addition to this, in the II quarter of 2019, 52.3% of total turnover comes on large and 20.5 percent comes on medium businesses while 27.2 percent is distributed to small business.

“A small difference is in case of total production value: 40.1 percent comes on large, 25.8 percent – on medium and 34.1 percent on small businesses,” the agency reports.

In the same period, the total purchases of goods and services carried out by enterprises equaled to 15.3 billion GEL which is 10.2 percent higher, while the purchase goods and services for resale amounted 9.2 billion GEL.

According to Geostat, in the II quarter of 2019, the average number of employees equaled to 687.9 thousand, which is year-on-year 4.8% higher.

In addition to this, out of the total number of employees, 41.1 percent are female and 58.9 percent are male.

Moreover, 36.5 percent of the total number of employees comes on large, 21.4 percent – on medium and 42.1 percent - on small businesses.

While the total number of employed persons amounted 646.0 thousand, the total personnel costs of enterprises equaled to 2 458.5 million GEL.

The average monthly remuneration of employed persons equaled to 1 241.1 GEL while remuneration of employed women made up 946.1 GEL.

Also, in the II quarter of 2019, the trade sector has the highest share (39.5 percent) in the total turnover in business sector, followed by arts, entertainment and recreation with 22.5 percent share, manufacturing – 10.0 percent, construction – 7.4 percent, transportation and storage – 5.6 percent, electricity, gas, steam and air conditioning supply – 2.9 percent and other sectors with 12.1 percent share.

Also, manufacturing (21.1 percent), construction (18.0 percent), trade (17.4 percent) and transportation and storage (9.8 percent) are on the top four places in business sector production value. The rest of the sectors have a 33.7 percent share.

By number of employees in the II quarter of 2019, trade, manufacturing, and human health and social work activities are leading in the business sector.