Tbilisi (GBC) - In 4Q2024, compared to the same quarter of the previous year, the volume of business sector turnover increased by 10% and amounted to 62 billion GEL, - according to the preliminary data from the National Statistics Office of Georgia (Geostat).

The increase was observed in the production value of the business sector as well. In 4Q2024, production value equaled 23.5 billion GEL, which is 10.8% more year-on-yea.

In 4Q2024, large businesses generated 67.6% of total turnover, while medium-sized businesses generated 14.9%, and 17.5% was generated by small businesses.

A distribution was slightly different in case of total production value: 43.8% was on large businesses, 25.1% - on medium, and 31.1% - on small businesses.

In 4Q2024, total purchases of goods and services carried out by enterprises equaled 33.2 billion GEL (year-on-year 8.6 percent more), while the purchase of goods and services for resale amounted to 18.8 billion GEL (year-on-year 0.6 percent less).

In 4Q2024, the average number of persons employed in business sector equaled 811.8 thousand, which is year-on-year 3.8% more. Out of the total number of persons employed, 43.7% were female and 56.3% were male.

Large businesses employed 41.7 percent of total number of persons, while 21.5 percent were employed by medium, and 36.9 percent - by small businesses.

The total number of employees amounted to 764.2 thousands (year-on-year 3.0 percent more).

The total personnel costs of enterprises equaled 5 536.6 million GEL (year-on-year 10.9 percent more). In 4Q2024, average monthly remuneration of employed persons equaled 2 367 GEL (170.8 GEL increase year-on-year) while remuneration of employed women specifically was 1 847 GEL (159.7 GEL increase year-on-year). Average monthly remuneration of employed persons by size of enterprises is as follows:

⦁ Large business - 2 466 GEL
⦁ Medium business - 2 750 GEL
⦁ Small business - 1 969 GEL

In 4Q2024, construction (20.5 percent), trade (18.6 percent), manufacturing (17.6 percent) and transportation and storage (9.5 percent) held the top four places in business sector by production value. Rest of sectors had 33.8 percent share.

In 4Q2024, trade (wholesale and retail trade, repair of motor vehicles and motorcycles), manufacturing, and human health and social work activities led business sector by number of employees (accordingly with 28.5 percent, 11.3 percent and 9.2 percent share).

However, enterprises engaged in construction activities (8.6 percent), transportation and storage (8.2 percent), information and communication (6.2 percent), and accommodation and food service activities (5.3 percent) had also a significant share.