The increase of business sector turnover attained 10% in Q4

The increase of the volume of business sector turnover reached 10.0 % and amounted to 62.0 billion GEL in the IV quarter of 2024, compared to the same quarter of the previous year. Meanwhile, the growth of production value equaled 23.5 billion GEL in the reporting period (10.8 % more year-on-year).
Overall, 67.6 % of total turnover accounted for large businesses, 14.9 % for medium size businesses, and 17.5 % for small business in the reporting period. Meanwhile, large businesses generated 43.8 % of total production value, 25.1 % – medium, and 31.1percent – small businesses.
Totally, purchases of goods and services attained 33.2 billion GEL (year-on-year 8.6 % more) in the reporting period, while the purchase of goods and services for resale reached 18.8 billion GEL (year-on-year 0.6% less). In October-December 2024, business sector employed 811.8 thousand people (up 3.8 %мyear-on-year). 43.7 % of them were female and 56.3 % were male.
Out of 764.2 thousand employees, 41.7 % worked for large businesses, 21.5 % for medium, and 36.9 % – for small businesses. Enterprises reported the total personnel costs of 5 536.6 million GEL (year-on-year 10.9 % more). In the reporting period, an employee earned 2 367.0 GEL a month (170.8 GEL increase year-on-year) on average, while women earned 1 847.3 GEL (159.7 GEL increase year-on-year) a month. Average monthly salary in large business was 2 466.2 GEL, in
medium business – 2 750.1 GEL, and 1 969.8 GEL in small business.
The highest share (35.1%) in the total turnover in business sector in the reporting period accounted for the arts, entertainment and recreation. Then followed trade sector (including repair of motor vehicles and motorcycles) (33.7%), construction (7.0%), manufacturing (6.9%), transportation and storage (4.6%), and other sectors (12.7%).

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