Page 25 - GEORptApr21

2015
2016
2017
2018
2019
Q1’ 20
Q2’20
Q3’20
Q4’20
Active population (labour force), thousand persons
1675.6 1653.8 1641.4 1605.2 1572.8 1545.2 1515.0 1528.9 1505.7
Employed, thousand persons
1255.0 1308.5 1294.5 1286.9 1296.2 1295.9 1262.7 1237.6 1197.9
Unemployed, thousand persons
367.2 359.2 354.5 309.0 276.9 282.6 277.4 259.8 307.8
Unemployment rate, percentage
21.9 21.7 21.6 19.2 17.6 18.3 18.3 17.0 20.4
Source: Geostat
4.4.2 Retail sector dynamics
Retail sales increases 13.5% y/y in 1Q20
Retail sales in Georgia increased 3.4% y/y in the third quarter of 2020, after facing a significant plunge of 14.5% in the previous quarter, according to Geostat. The second quarter of 2020 was by far the largest decline in retail trade recorded at -14.5% brought on by the coronavirus pandemic.
In 2017, retail trade turnover reached GEL9,929.8mn, up from GEL8,101.9mn in 2016. Retail sales, which has been growing at a strong double-digit pace for several years, grew by only 8-9% in 2015-16 as wage growth slowed and unemployment rose.
Retail sales y/y in Georgia averaged 16% from 2000 to 2019.
25 GEORGIA Country Report April 2021 www.intellinews.com