2nd quarter of 2021: Business turnover increased by 56.7%
By Natalia Kochiashvili
Tuesday, September 7
The National Statistics Office of Georgia (Geostat) has released a report for the second quarter of 2021, accordion to which, the turnover of the business sector in the mentioned period increased by 56.7% compared to the same period last year and amounted to GEL35 billion.
According to Geostat, the output of the business sector is also characterized by an upward trend. In the second quarter of 2021, its volume was estimated at GEL13.2 billion, which is 43.4% more than in the same period last year.
At the same time, 61.4% of total turnover falls on large businesses, 18.2% - on medium, and 20.4% - on small businesses. The situation is slightly different in the case of total output - large businesses account for 45.9% of output, medium-sized - 27.1%, and small businesses - 27%. Total purchases of goods and services by enterprises in the second quarter of 2021 amounted to GEL19.2 billion, which is 48.5% more than in the same period last year, and purchases of goods and services for resale - GEL11.8 billion, which is 52% more than in the same period last year.
Also, in the second quarter of this year, the highest share in the turnover structure of the business sector - 36.8% comes from the trade sector. Art, entertainment and leisure are in second place with 31.6%, followed by manufacturing with 10.2%, construction with 5.7%, transport and storage with 4.7%, electricity, gas, steam and air conditioning with 2.8%. 8.2 percent is distributed to other sectors. During the reporting period, the manufacturing industry accounted for 25.1% and trade for 19.2%, followed by construction with 16.2% and transport and warehousing with 9%.
In the total turnover by regions, Tbilisi leads with 77.5%, followed by Adjara AR - 5.3%, Kvemo Kartli - 4.8%, Imereti - 4.1% and Samegrelo-Zemo Svaneti - 2.3%.
The Geostat report also reads that the average number of employees in the second quarter of 2021 was 659.7 thousand people, which is 4.4% more than in the same period last year. 42% of the total number of employees are women, and 58% - men.
According to Geostat, 40.6% of the total number of employees are large businesses, 22.6% - medium-sized, and the remaining 36.8% - small businesses. The total number of employees was 623.7 thousand people (4% more than in the same period last year).
Total expenditures of enterprises on staff - GEL2 648.3 million, is 22.9% more than in the same period last year. At the same time, in the second quarter of the current year, the average monthly salary in the business sector amounted to GEL1 389.6, which is an increase of GEL214 compared to the same period last year. Among them, women's salaries amounted to GEL1,098.4, which is GEL182.1 more than in the same period last year.
According to the size of enterprises, the average monthly salary is as follows: Large business - GEL1 440.3; Medium business - GEL1 640.4; Small business - GEL1 144.9. At the same time, the sectors of trade, manufacturing and healthcare, and social services are leading in the business sector in terms of the number of employees during the reporting period. A significant share in the structure also falls on the enterprises in the field of construction, transport, and warehousing, and accommodation and food supply activities.
As for the number of employees, this indicator is distributed as follows: Tbilisi - 65.7%, Adjara AR. - 8.4%, Imereti - 6.7%, Kvemo Kartli - 5.7%, Samegrelo-Zemo Svaneti - 3.6%.
According to Geostat, in August 2021, compared to the previous month, the inflation rate in Georgia was 0.7%, and the annual inflation rate was 12.8%. The same indicator was 9.9% in June, up from 11.9% in July.
As for core inflation, this figure was 6.7% in August 2021 compared to the same period last year, and the annual core inflation rate without tobacco was set at 6.8%.
The main impact on the formation of the monthly inflation rate was the change in prices for food and non-alcoholic beverages, which increased by 16.2%, which was reflected in annual inflation by 5.09% points.
