Page 24 - GEORptSep22

Average monthly salary in Georgia at GEL1,463.8 in Q4 2021
According to Geostat, in 2021, the average monthly nominal earnings in Georgia increased by GEL166.4 y/y to total GEL1,357.4.
"In the majority of sectors of the economy the average monthly earnings of men were higher compared to women," noted Geostat.
According to the statistics office, the highest earnings were observed in the following fields: financial and insurance activities, GEL 2,354.7 (increased by 15.4% y/y); information and communication, GEL 2,173.0 (increased by 12.4%); construction, GEL 2,006.1 (increased by 23.7%); and professional, scientific and technical activities, GEL 1 919.5 (increased by 7.4%).
2014
2015
2016
2017
2018
2019
2020
2021
1Q2022
2Q2022
Labour force (active population), thousand persons
1629
1675.6
1653.8
1641.4
1605.2
1572.8
1523.7
1533.6
1490.7
1551.5
Employed, thousand persons
1,255
1308.5
1294.5
1286.9
1296.2
1295.9
1241.8
1217.4
1201.1
1269.9
Unemployed, thousand persons
374
367.2
359.2
354.5
309.0
276.9
281.9
316.2
289.6
281.6
Unemployment rate %
23
21.9
21.7
21.6
19.2
17.6
18.5
20.6
19.4
18.1
Average monthly nominal earnings, GEL
818
900.4
940.0
999.1
1068.3
1129.5
1191.0
1357.4
Source: Geostat
4.4.2 Retail sector dynamics
Retail sales grew 31% y/y in 1Q22
Retail sales in Georgia increased 31% y/y in the first quarter of 2022, down from 44.8% increase 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 14.5% from March 2010 to June 2021.
24 GEORGIA Country Report September 2022 www.intellinews.com