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%.
Investment Environment in Georgia
For countries that are as small as Georgia and have a transition economy, direct foreign...
