Volume of business sector turnover up by 8.8 percent in Third Quarter of 2023

05.12.23 11:15

In the III quarter of 2023 compared to the same quarter of the previous year the volume of business sector turnover increased by 8.8 percent and amounted to 51.7 billion GEL, the National Statistics Service (GeoStat) reported.


The production value of the business sector is characterized by an increasing tendency. In the III quarter of 2023, its volume equalled to 19.9 billion GEL, which is year-on-year 5.2 percent more.


In the III quarter of 2023, 64.2 percent of total turnover comes on large and 15.3 percent – on medium businesses while 20.5 percent is distributed to small businesses. A small difference is in the case of total production value: 44.4 percent comes on large, 23.1 percent – on medium and 32.5 percent on small businesses.


In III quarter of 2023, total purchases of goods and services carried out by enterprises equalled to 28.4 billion GEL (year-on-year 1.4 percent more), while the purchase of goods and services for resale amounted 17.3 billion GEL (year-on-year 2.5 percent more). In the III quarter of 2023, the average number of persons employed equalled to 757.9 thousand, which is year-on-year 4.8 percent more. Out of the total number of persons employed, 42.6 percent are female and 57.4 percent are male.


In the III quarter of 2023, the trade sector (including repair of motor vehicles and motorcycles) has the highest share (36.3 percent) in the total turnover in the business sector, followed by arts, entertainment and recreation with 32.4 percent share, manufacturing – 8.2 percent, construction – 5.9 percent, transportation and storage – 4.9 percent and other sectors with 12.3percent share.


(17.3 percent), and transportation and storage (9.4 percent) are on the top four places in business sector production value. The rest of the sectors have a 33.2 percent share.


In the III quarter of 2023, 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 number of employees (accordingly with 28.1 percent, 11.9 percent and 9.7 percent share). However, Enterprises engaged in construction activities (8.8 percent), transportation and storage (8.1 percent), Information and communication (6.0 percent) and Accommodation and food service activities (5.3 percent) have also a significant share.

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