In the I quarter of 2023 compared to the same quarter of previous year the volume of business sector turnover increased by 14.4% and amounted to 44.1 billion GEL, the National Statistics Service (GeoStat) reported.

According to the report, the production value of the business sector is characterized by an increasing tendency. In the IV quarter of 2022, its volume equaled to 15.9 billion GEL, which is year-on-year 13.0% more.

Based on Geostat, in the I quarter of 2023, 69.3% of total turnover comes on large and 14.0 percent – on medium businesses while 16.7% is distributed to small businesses. A small difference is in the case of total production value: 49.2% comes on large, 23.0% – on medium and 27.8% on small businesses.

In I quarter of 2023, total purchases of goods and services carried out by enterprises equaled 24.1 billion GEL (year-on-year 9.0% more), while the purchase goods and services for resale
amounted 15.7 billion GEL (year-on-year 10.9% more). In the I quarter of 2023, the average number of persons employed equaled 716.1 thousand, which is year-on-year 6.3% more. Out of the total number of persons employed, 43.3% are female and 56.7% are male.

44.0% of total number of persons employed comes on large, 20.7% – on medium and 35.3% – on small businesses.

The total number of employees amounted 677.2 thousand (year-on-year 6.3% more). The total personnel costs of enterprises equaled to 3 645.8 million GEL (year-on-year 26.2% more).

In the I quarter of 2023, average monthly remuneration of employed persons equaled 1 759.1 GEL (year-on-year increase by 279.4 GEL) while remuneration of employed women made up 1 395.5 GEL (year-on-year increase by 208.8 GEL).

According to the report, the average monthly remuneration of employed persons by size of enterprises is as follows: Large Business – 1899.4 GEL, Medium Business – 2 030.1 GEL, Small Business – 1 368.7 GEL.