04.Jun .2020 14:11

Turnover of the business sector increased by 13.5% in Q1

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The National Statistics Office of Georgia has published preliminary results of activity of enterprises. In the I quarter of 2020 compared to the same quarter of previous year the volume of business sector turnover increased by 13.5 percent and amounted to 26.0 billion GEL.

The production value of the business sector is characterized by the growth tendency. In the I quarter of 2020, its volume equaled to 10.3 billion GEL, which is year-on-year 8.4 percent higher.

In the I quarter of 2020, 60.0 percent of total turnover comes on large and 16.6 percent – on medium businesses while 23.4 percent is distributed to small business. A small difference is in case of total production value: 44.3 percent comes on large, 24.4 percent – on medium and 31.3 percent on small businesses.

In I quarter of 2020, total purchases of goods and services carried out by enterprises equaled to 15.2 billion GEL (year-on-year 5.7 percent higher), while the purchase goods and services for resale amounted 9.5 billion GEL (year-on-year 7.3 percent higher). In the I quarter of 2020, the average number of employees equaled to 684.4 thousand, which is year-on-year 3.1 percent higher. Out of the total number of employees, 41.8 percent are female and 58.2 percent are male.

39.9 percent of total number of employees comes on large, 20.7 percent – on medium and 39.4 percent - on small businesses. The total number of employed persons amounted 640.5 thousands (year-on-year 3.4 percent higher). The total personnel costs of enterprises equaled to 2 408.4 million GEL (year-on-year 10.3 percent higher). In the I quarter of 2020, average monthly remuneration of employed persons equaled to 1 227.0 GEL (year-on-year increase by 75.2 GEL) while remuneration of employed women made up 957.5 GEL (year-on-year increase by 23.3 GEL). Average monthly remuneration of employed persons by size of enterprises is as follows:

• LARGE BUSINESS – 1293.7 GEL
• MEDIUM BUSINESS – 1 404.9 GEL
• SMALL BUSINESS – 1 035.2 GEL.

In the I quarter of 2020, the trade sector (including repair of motor vehicles and motorcycles) has the highest share (37.6 percent) in the total turnover in business sector, followed by arts, entertainment and recreation with 27.8 percent share, manufacturing – 8.9 percent, construction – 5.8 percent, transportation and storage – 5.4 percent, electricity, gas, steam and air conditioning supply – 4.0 percent and other sectors with 10.5 percent share.

In the I quarter of 2020, manufacturing (21.6 percent), trade (16.9 percent), construction (15.7 percent) and transportation and storage (9.6 percent) are on the top four places in business sector production value. Rest of sectors have the 36.2 percent share.