Business Turnover Hikes in Georgia
In 2019, the business turnover in Georgia was 108.5 billion GEL which is 21.9 billion GEL more than in 2018. According to the “Sakstat”, the National Statistics Department, the largest increase – 31.4 billion GEL occurred in IV quarter of the previous year, i.e. more than 21.7% YOY. The growth is noticeable in terms of the production as well. In IV quarter of the previous year, the volume of the production was 13.4 billion GEL or 15.7% over YOY. In IV quarter of 2019, large businesses had 52.7% out of the total turnover, the mid-sized and small business – 20.0% and 27.3%, accordingly. The rate of the total production is slightly different: 36.2%, 27.3% and 36.5% for large, mid-sized and small business, respectively. Understandingly, the recruitment rates of the large, mid-sized and small companies differ too: 36.2%, 21.7% and 42.1%. The average monthly salaries are as follows: large businesses – 1 365.9 Gel, mid-sized businesses – 1 603.3 GEL, and small businesses – 1 325.7 GEL. In IV quarter of 2019, the highest share in the total business turnover comes to trading – 38.4%, followed by 24.7% for arts, entertainment and recreation. The share of the manufacturing industry was 9.3%, development – 8.2%, logistics and storage – 5.7%, power, natural gas, steam supply and air conditioning made up 3.1%, while the left 10.6% fell to the other industries. The capital city Tbilisi tops the total business turnover with 76.9%, the Autonomous Republic of Adjara comes second, with 6.6%, while Samegrelo and Upper Svaneti regions are at the bottom of the list with 2.8%.