Business sector turnover up 10% in Q4
In the IV quarter of 2024, compared to the same quarter of the previous year, the volume of business sector turnover increased by 10.0 percent and amounted to 62.0 billion GEL. The increase was observed in the production value of the business sector as well. In the IV quarter of 2024, production value equaled 23.5 billion GEL, which is 10.8 percent more year-on-year.
In the IV quarter of 2024, large businesses generated 67.6 percent of total turnover, while medium size businesses generated 14.9 percent, and 17.5 percent was generated by small business. A distribution was slightly different in case of total production value: 43.8 percent was on large businesses, 25.1 percent – on medium, and 31.1percent – on small businesses.
In IV quarter of 2024, total purchases of goods and services carried out by enterprises equaled 33.2 billion GEL (year-on-year 8.6 percent more), while the purchase of goods and services for resale amounted to 18.8 billion GEL (year-on-year 0.6 percent less). In the IV quarter of 2024, the average number of persons employed in business sector equaled 811.8 thousand, which is year-on-year 3.8 percent more. Out of the total number of persons employed, 43.7 percent were female and 56.3 percent were male.
Large businesses employed 41.7 percent of total number of persons, while 21.5 percent were employed by medium, and 36.9 percent – by small businesses. The total number of employees amounted to 764.2 thousands (year-on-year 3.0 percent more). The total personnel costs of enterprises equaled 5 536.6 million GEL (year-on-year 10.9 percent more). In the IV quarter of 2024, average monthly remuneration of employed persons equaled 2 367.0 GEL (170.8 GEL increase year-on-year) while remuneration of employed women specifically was 1 847.3 GEL (159.7 GEL increase year-on-year). Average monthly remuneration of employed persons by size of enterprises is as follows:
Large business – 2 466.2 GEL
Medium business – 2 750.1 GEL
Small business – 1 969.8 GEL
In the IV quarter of 2024, the arts, entertainment and recreation has the highest share (35.1 percent) in the total turnover in business sector, followed by trade sector (including repair of motor vehicles and motorcycles) with 33.7 percent share, construction – with 7.0 percent, manufacturing – with 6.9 percent, transportation and storage – with 4.6 percent, and other sectors – with 12.7 percent share.
Source Link