In the II quarter of 2024, compared to the same quarter of the previous year, the volume of business sector turnover increased by 11.6% and amounted to 53.6 billion GEL, reads the report of GeoStat.

The increase was observed in the production value of the business sector as well. In the II quarter of 2024, production value equaled 20.5 billion GEL, which is 12.5% more year-on-year [YoY].

In the II quarter of 2024, large businesses generated 66.5% of total turnover, while medium size businesses generated 15.1%, and 18.4% was generated by small business. A distribution was slightly different in case of total production value: 46.0% was on large businesses, 24.3% - on medium, and 29.7% - on small businesses.

In II quarter of 2024, total purchases of goods and services carried out by enterprises equaled 28.3 billion GEL (YoY 8.3% more), while the purchase of goods and services for resale amounted to 17.0 billion GEL (YoY 3.8% more).

In the II quarter of 2024, the average number of persons employed in business sector equaled 769.9 thousand, which is YoY 4.4% more. Out of the total number of persons employed, 43.6% were female and 56.4% were male.

Large businesses employed 43.6% of total number of persons, while 20.0% were employed by medium, and 36.5% - by small businesses. The total number of employees amounted to 724.0 thousands (YoY 3.4% more). The total personnel costs of enterprises equaled 4 657.0 million GEL (year-on-year 13.5% more). In the II quarter of 2024, average monthly remuneration of employed persons equaled 2 105.5 GEL (190.7 GEL increase YoY) while remuneration of employed women specifically was 1 636.3 GEL (153.8 GEL increase YoY).

Average monthly remuneration of employed persons by size of enterprises is as follows:

• Large business - 2 224.0 GEL
• Medium business - 2 538.1 GEL
• Small business - 1 653.6 GEL