In the IV quarter of 2022 compared to the same quarter of the previous year the volume of business sector turnover increased by 18.1% and amounted to 51.7 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 equalled 19.8 billion GEL, which is year-on-year 22.1% more.

In the IV quarter of 2022, 62.0% of total turnover comes on large and 15.6 % – on medium businesses while 22.4% is distributed to small businesses.

A small difference is in the case of total production value: 43.7% comes on large, 23.8% – on medium and 32.5% on small businesses.

Based on Geostat, in the IV quarter of 2022, total purchases of goods and services carried out by enterprises equalled 30.4 billion GEL (year-on-year 21.8% more), while the purchase of goods and services for resale amounted 18.4 billion GEL (year-on-year 21.0% more).

In the IV quarter of 2022, the average number of persons employed equalled 741.0 thousand, which is year-on-year 6.9% more.

Out of the total number of persons employed, 43.1% are female and 56.9% are male.

41.7% of the total number of persons employed comes on large, 21.8% – on medium and 36.4% – on small businesses. The total number of employees amounted to 699.5 thousand (year-on-year 5.3% more).

The total personnel costs of enterprises equalled 4 086.8 million GEL (year-on-year 25.5% more). In the IV quarter of 2022, the average monthly remuneration of employed persons equalled 1 911.1 GEL (year-on-year increase by 313.2 GEL) while remuneration of employed women made up 1 487.0 GEL (year-on-year increase by 244.4 GEL).

According to the report, the average monthly remuneration of employed persons by the size of enterprises is as follows: Large Business – 2 007.2 GEL; Medium Business – 2 165.3 GEL; Small Business – 1 602.1 GEL.

In the IV quarter of 2022, the trade sector (including repair of motor vehicles and motorcycles) has the highest share (38.9%) in the total turnover in the business sector, followed by arts, entertainment and recreation with 30.2% share, manufacturing – 8.0%, construction – 6.7%, transportation and storage – 4.9%, electricity, gas, steam and air conditioning supply – 2.8% and other sectors with 8.7% share.

In the IV quarter of 2022, manufacturing (20.5%), construction (20.3%), trade (19.9%), and transportation and storage (9.2%) are in the top four places in business sector production value. The rest of the sectors have a 30.1% share.

In the IV quarter of 2022, trade (wholesale and retail trade, repair of motor vehicles and motorcycles), manufacturing and Human health and social work activities are leading in the business sector by the number of employees (accordingly with 27.8%, 12.6% and 9.9% share). However, construction activities (8.5%), Enterprises engaged in transportation and storage (8.0%), Information and communication (5.7%) and Accommodation and food service activities (5.0%) have also a significant share.