In 2Q2024, compared to the same quarter of the previous year, the volume of business sector turnover increased by 11.6% and amounted to 53.6 billion GEL, - according preliminary data from the National Statistics Office of Georgia (Geostat).
The increase was observed in the production value of the business sector as well. In the II quarter of 2024, production value equaled 20.5 billion GEL, which is 12.5 percent more year-on-year.
In the II quarter of 2024, large businesses generated 66.5 percent of total turnover, while medium size businesses generated 15.1 percent, and 18.4 percent was generated by small business. A distribution was slightly different in case of total production value: 46.0 percent was on large businesses, 24.3 percent - on medium, and 29.7 percent - on small businesses.
In II quarter of 2024, total purchases of goods and services carried out by enterprises equaled 28.3 billion GEL (year-on-year 8.3 percent more), while the purchase of goods and services for resale amounted to 17.0 billion GEL (year-on-year 3.8 percent more).
In the II quarter of 2024, the average number of persons employed in business sector equaled 769.9 thousand, which is year-on-year 4.4 percent more. Out of the total number of persons employed, 43.6 percent were female and 56.4 percent were male.
Large businesses employed 43.6 percent of total number of persons, while 20.0 percent were employed by medium, and 36.5 percent - by small businesses. The total number of employees amounted to 724.0 thousands (year-on-year 3.4 percent more). The total personnel costs of enterprises equaled 4 657.0 million GEL (year-on-year 13.5 percent more).
In the II quarter of 2024, average monthly remuneration of employed persons equaled 2 105.5 GEL (190.7 GEL increase year-on-year) while remuneration of employed women specifically was 1 636.3 GEL (153.8 GEL increase year-on-year).
Average monthly remuneration of employed persons by size of enterprises is as follows:
- Large business - 2 224.0 GEL
- Medium business - 2 538.1 GEL
- Small business - 1 653.6 GEL
In the II quarter of 2024, the trade sector (including repair of motor vehicles and motorcycles) has the highest share (34.5 percent) in the total turnover in business sector, followed by arts, entertainment and recreation with 33.9 percent share, manufacturing - with 8.5 percent, construction - with 6.0 percent, transportation and storage - with 4.7 percent, and other sectors - with 12.4 percent share.
In the II quarter of 2024, manufacturing (20.3 percent), trade (19.0 percent), construction (18.1 percent), and transportation and storage (9.1 percent) held the top four places in business sector by production value. Rest of sectors had 33.5 percent share.
Number of employees by regions is distributed as follows: • Tbilisi - 65.7 percent • Adjara - 9.0 percent • Imereti - 6.7 prcent • Kvemo Kartli - 5.6 percent • Samegrelo-Zemo Svaneti - 3.4 percent • Kakheti - 2.8 percent • Shida Kartli - 2.2 percent • Mtskheta-Mtianeti - 1.7 percent • Samtskhe-Javakheti - 1.4 percent • Guria - 0.9 percent • Racha-Lechkhumi and Kvemo Svaneti - 0.3 percent
