The FINANCIAL — National Statistics Office of Georgia published data of Activities of Enterprises II Quarter, 2020. In the II quarter of 2020 compared to the same quarter of the previous year the volume of business sector turnover decreased by 11.5 percent and amounted to 22.3 billion GEL. The production value of the business sector is characterized by a decreasing tendency. In Q2, its volume equaled to 9.2 billion GEL, which is year-on-year 18.3 percent less.
In the II quarter of 2020, 58.8 percent of total turnover comes on large and 17.8 percent – on medium businesses while 23.4 percent is distributed to small business. A small difference is in case of total production value: 43.7 percent comes on large, 25.7 percent – on medium and 30.6 percent on small businesses.
In II quarter of 2020, total purchases of goods and services carried out by enterprises equaled to 12.9 billion GEL (year-on-year 15.3 percent less), while the purchase goods and services for resale amounted 7.7 billion GEL (year-on-year 16.2 percent Less). In the II quarter of 2020, the average number of employees equaled to 631.8 thousand, which is year-on-year 8.1 percent less. Out of the total number of employees, 40.9 percent are female and 59.1 percent are male.
Georgian businesses employed about 599,500 people in the second quarter of 2020. The number of people employed in the Georgian business sector decreased by 7.2 per cent compared to the same period of 2019. The majority of people employed in the business sector (66.1 per cent) worked in Georgia’s capital of Tbilisi, which is regarded as the country’s economic hub. The majority of people (41.4 per cent) worked in large businesses, 36.1 per cent were employed in small business, and the remaining 22.5 per cent worked in medium-sized businesses, as reported by agenda.ge
41.4 percent of total number of employees comes on large, 22.5 percent – on medium and 36.1 percent – on small businesses. The total number of employed persons amounted 599.5 thousands (year-on-year 7.2 percent less). The total personnel costs of enterprises equaled to 2 154.5 million GEL (year-on-year 12.4 percent less). Q2 average monthly remuneration of employed persons equaled to 1 175.6 GEL (year-on-year decrease by 65.5 GEL) while remuneration of employed women made up 916.3 GEL (year-on-year decrease by 29.7 GEL).
In the II quarter of 2020, the trade sector (including repair of motor vehicles and motorcycles) has the highest share (36.7 percent) in the total turnover in business sector, followed by arts, entertainment and recreation with 27.4 percent share, manufacturing – 10.1 percent, construction – 6.3 percent, transportation and storage – 5.8 percent, electricity, gas, steam and air conditioning supply – 3.4 percent and other sectors with 10.2 percent share:
In the second quarter of 2020, manufacturing (23.5 percent), trade (17.7 percent), construction (16.2 percent) and transportation and storage (9.9 percent) are on the top four places in business sector production value. Rest of sectors have the 32.8 percent share.
In Q2 of 2020 trade (wholesale and retail trade, repair of motor vehicles and motorcycles), manufacturing and Human health and social work activities are leading in business sector by number of employees (accordingly with 26.8 percent, 13.1 percent and 11.2 percent share). However, construction activities (9.1 percent), Enterprises engaged in transportation and storage (8.0 percent) and accommodation and food service activities (4.8 percent) have also a significant share.
By regions, Tbilisi and following regions are leading in gross turnover: Tbilisi – 76.8 percent; Kvemo Kartli – 5.2 percent; Adjara – 4.6 percent; Imereti – 3.7 percent; Samegrelo-Zemo svaneti – 3.3 percent.
By regions, Tbilisi and following regions are still leading in gross production value: Tbilisi – 62.5 percent; Kvemo Kartli – 9.4 percent; Adjara – 7.3 percent; Imereti – 5.7 percent; Samegrelo-Zemo svaneti – 4.5 percent.
The National Statistics Office of Georgia published also published data of the Inflation rate in Georgia (August 2020). The Consumer Price Index decreased 0.02 percent compared to the previous month, while the annual inflation rate amounted to 4.8 percent. With regard to the annual core inflation, the prices increased by 5.7 percent, while the annual core inflation without tobacco amounted to 5.2 percent. The prices of food and non-alcoholic beverages have decreased in Georgia month-on-month by 0.5 percent. Read more.