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Which Is The Fastest Growing Sector Of The Georgian Economy?

20.06.23 10:00
The size of the Georgian economy reached GEL 16.4 billion in 2023, and the GDP growth was 6.8%.

According to Geostat, IT information and communication was the fastest-growing sector of the Georgian economy. The increase was 44% amounting to GEL 785 million.

Despite such a large increase, the IT and communications sector is the ninth largest sector of the Georgian economy. The first place is occupied by trade, which volume was GEL 2 billion in 1Q2023. This sector includes  IT, telecommunications, TV and radio broadcasting.

According to Geostat report, the number of employees in the information and communication sector has increased dramatically. If in 2022, 31 thousand people were employed, in 1Q2023 the number of employees reached 41.9 thousand. This is a 36% increase in the workforce.

As for the average salary in the sector, if it amounted to GEL 2,380 in 2022, in 1Q2023 the average salary had already increased to GEL 3,740.