The residential property price index covers only the Tbilisi market and pertains solely to new residential properties, including both multi-storey apartment blocks and private houses.Data from GeoStat indicates that in the fourth quarter of 2025, prices rose by 1.3 per cent in both the apartment segment and the private house segment compared to the previous quarter. Additionally, private houses experienced a 2.1% increase.Year-on-year, both segments saw price growth: apartments by 3.5 per cent and private houses by 2.5 per cent compared to the same quarter in 2024.Regarding the price per square metre in the apartment sector, the most expensive district remains Mtatsminda, where the average price per square metre is 6,738 GEL. Vake follows, with apartments costing 5,874 GEL per square metre. Other notable districts include Chugureti at 4,353 GEL, Saburtalo at 4,313 GEL, Krtsanisi at 4,181 GEL, Didube at 4,054 GEL, Nadzaladevi at 3,978 GEL, Isani at 3,854 GEL, Gldani at 3,731 GEL, and Samgori at 3,549 GEL.In the private houses segment, the highest price per square metre is also in Mtatsminda, at 4,594 GEL. Vake follows at 4,311 GEL, with Saburtalo at 3,504 GEL, Didube at 3,369 GEL, Samgori at 3,121 GEL, Isani at 3,110 GEL, Chugureti at 3,088 GEL, Gldani at 2,985 GEL, Krtsanisi at 2,830 GEL, and Nadzaladevi at 2,660 GEL.

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TBC Capital highlights that the improvement in the current account is mainly driven by growth in services exports, particularly in the information and communication sector.Additionally, slower import growth and increases in remittances and tourism revenues support the surplus. Including reinvestments, the current account deficit is projected at 2.7% of GDP in 2025, the lowest level recorded to date.Economic growth slowed in the second half of 2025, in line with expectations of normalization around long-term trends. For 2026, the Russia-Ukraine war remains a significant factor, with both positive and negative potential impacts on Georgia’s economy. TBC Capital’s baseline scenario projects real GDP growth of approximately 4.5% for 2026.Regarding the lari, three main factors supported appreciation in 2025: global dollar weakness, increased net foreign currency inflows, and reduced domestic demand for foreign currency, reflected in higher lari deposits and growing dollarized loans. The National Bank reportedly purchased $2.5 billion in 2025, resulting in total foreign exchange reserves of $6.2 billion and net reserves of $3.2 billion.TBC Capital notes that the lari is still undervalued against the dollar and trade partners, supporting potential further appreciation. However, a post-war scenario could temporarily reorient currency flows, which may exert short-term pressure. Considering reserve levels and the central bank’s policy to limit excessive exchange rate fluctuations, the lari is expected to depreciate only slightly in 2026.Inflation slowed from November, reaching 4% year-on-year in December 2025. TBC Capital projects inflation to rise at the start of 2026, then gradually slow from March, reaching 3.5% by year-end. Key risks include possible increases in electricity tariffs and food prices in the spring, which could affect the inflation trajectory.

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Compared to November 2025, the overall hotel price index rose by 4.3%, with the largest increases recorded in Mtskheta-Mtianeti, Samtskhe-Javakheti, and Tbilisi. Year-on-year, the index increased by 3.9%, with Samtskhe-Javakheti, Tbilisi, and Adjara seeing the most significant rises.The study reports that in December 2025, the average prices were 99 GEL for family-type hotels, 150 GEL for 3-star hotels, 245 GEL for 4-star hotels, and 504 GEL for 5-star hotels. The highest average rates were observed in Samtskhe-Javakheti (1040 GEL), Mtskheta-Mtianeti (1001 GEL), and Tbilisi (639 GEL).

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Share of the domestic exports in total exports constituted 46.2 percent and amounted to USD 3 billion 367 million, 12.5 percent higher year-on-year.As of the document, in 2025 the share of the top ten trading partners by domestic exports in the total domestic exports of Georgia amounted to 68.9 percent. The top partners were Russia (USD 700.7 million), China (USD 301.9 million) and Türkiye (USD 298.8 million).In 2025 precious metal ores and concentrates claimed the first place in the list of top domestic export items, equaling USD 378.9 million, or 11.3 percent of total domestic exports. The domestic exports wine of fresh grapes totaled USD 266.5 million and their share in the total domestic exports amounted to 7.9 percent. The domestic exports of spirituous beverages occupied the third place, standing at USD 236.8 million and constituting 7.0 percent of the total domestic exports.

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The prices for mining and quarrying increased by 0.2 percent compared to November 2025, resulting in a 0.01 percentage point contribution to the overall monthly PPI change. In the same period, the prices for manufactured products increased by 0.2 percent, contributing 0.19 percentage points to the monthly index change. Within the group, a noteworthy price increase was registered for food products (0.4 percent) and basic metals (3.0 percent). Besides, the prices increased for electricity, gas, steam and air conditioning by 1.0 percent, contributing 0.1 percentage points to the monthly index change.The annual PPI rate was mainly affected by price changes for the following products:• Mining and quarrying: the prices were 22.4 percent higher, contributing 1.44 percentage points to the overall annual index change. Within the group, the prices were higher for the subgroup of metal ores (30.8 percent);• Manufactured products: the prices increased by 4.8 percent, contributing 3.83 percentage points to the overall annual index increase. There was a notable increase in the prices for food products (11.5 percent) and basic metals (5.3 percent);• Electricity, gas, steam and air conditioning: the annual price increase amounted to 7.6 percent, which contributed 0.79 percentage points to the annual index change;• Water supply, sewerage, waste management and remediation services: the annual price increase amounted to 1.5 percent, which contributed 0.04 percentage points to the annual index growth. 

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In 2025 the share of the top ten trading partners by exports in the total exports of Georgia amounted to 78.3 percent. The top partners were Kyrgyzstan (USD 1 498.8 million), Kazakhstan (USD 910.0 million) and Russia (USD 749.3 million).In 2025 the share of the top ten trading partners by imports in the total imports of Georgia amounted to 70.5 percent. The top partners were Türkiye (USD 2 775.0 million), USA (USD 2 723.7 million) and China (USD 1 985.4 million).In 2025 the share of the top ten trading partners in the total external trade turnover of Georgia amounted to 67.8 percent. The top trading partners were Türkiye (USD 3 107.9 million), USA (USD 2 843.8 million) and Russia (USD 2 688.5 million).In 2025 motor cars claimed the first place in the list of top export items, equaling USD 2 814.4 million with 38.6 percent of total exports. The exports of precious metal ores and concentrates totaled USD 378.9 million and their share in the total exports amounted to 5.2 percent. The exports of spirituous beverages occupied the third place standing at USD 282.5 million and constituting 3.9 percent of the total exports.The top import commodities in 2025 were motor cars, whose imports equaled USD 3 870.8 million (20.9 percent of the total imports). The petroleum and petroleum oils followed in the list with USD 1 358.8 million (7.3 percent of imports). The Medicaments put up in measured doses were third in the top import commodity list with USD 680.3 million (3.7 percent of imports).

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According to the National Wine Agency, the largest share of Georgian wine in Europe was sold to Poland, with 6.8 million litres exported. Germany came in second, with 1.3 million litres, followed by Latvia with 1.2 million litres, Lithuania with 703.5 thousand litres, the United Kingdom with 327.7 thousand litres, Estonia with 271 thousand litres, and others.The agency notes that the growth in exports is particularly notable in countries renowned for their wine traditions, such as France, where demand for Georgian wine, especially qvevri wine, continues to increase. In 2025, approximately 133 thousand litres were exported to France, representing a 63% increase compared to 2024.A central focus of the National Wine Agency’s efforts is to promote and raise awareness of Georgian wine in international markets. Among European nations, the strategic markets for Georgian wine include the United Kingdom, Germany, Poland, and Scandinavian countries. The agency undertakes advertising and marketing campaigns in these regions to diversify market access. With the support of the National Wine Agency, Georgian wine producers participate in all major international wine and spirits exhibitions across Europe.

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“This is a very important day for Georgia’s aviation sector. Under the agreement, $150 million will be invested in expanding Tbilisi International Airport over the coming years. The figures for 2025 speak for themselves – all three of Georgia’s international airports served 8.5 million passengers, setting new records. This demonstrates the urgent need to expand Tbilisi Airport,” Ioselian said.Under the renewed agreement, Groupe ADP, which owns TAV Georgia, will continue to operate Tbilisi International Airport under updated conditions for the next five years, until 2031. The plan includes doubling the terminal’s capacity, increasing the number of passengers from 5 million to over 10 million annually, and expanding aircraft parking stands from 58 to 65.Ioselian noted that the investment will triple the revenue of the United Airports of Georgia, with the company also receiving an advance payment of $25 million. TAV Georgia will participate in marketing initiatives to attract additional airlines and establish more direct flights.The Deputy Minister also emphasized the government’s ongoing development of a new international airport in Vaziani, set to open in 2031, which will serve approximately 20 million passengers annually, after which Tbilisi International Airport’s current operations will cease.

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From August 1, 2025, to January 13, 2026, Georgia exported 10,000 tons of apples valued at $7.3 million. Compared to the same period in 2024, the export volume increased by 28% (2,200 tons) and the value rose by 47% ($2.3 million).Russia remained the main export destination, receiving 9,197 tons of apples. Other notable destinations included Turkey (540 tons), Belarus (150 tons), Armenia (83 tons), and Iraq (21 tons).The ministry also reported that the average export price per kilogram of apples reached $0.73, marking a 15% increase compared to the same period last year.

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According to the agency, the average export price per litre of Georgian wine rose in 2025 compared to 2024, reaching USD 2.98. In the previous year, this figure was USD 2.91.Among strategic markets, the highest average export price per litre is in the United States, at USD 6.17, followed by Japan at USD 5.77, South Korea at USD 5.26, Great Britain at USD 5.19, Germany at USD 4.73, China at USD 3.14, and Poland at USD 2.50.Levan Mekhuzla, Chairman of the National Wine Agency, stated that the agency is actively working to enhance the quality of Georgian wine, which is expected to lead to an increase in the average export price.“Amid intense global competition, Georgian wine must be distinctive, of the highest quality, with unique properties. We need to start caring for this from the vineyard, and maintain those standards throughout the entire production process,” said Levan Mekhuzla.

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