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Economics
Cashless Spending on Pharmacy Purchases Up By 28% Through TBC Bank Cha...

The average spending per transaction reached 31 GEL.During the same period, cashless spending on personal hygiene products via TBC Bank channels grew 31% annually, with an average transaction value of 91 GEL.

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Georgian Wine Exports to the EU Grow by 13% in First Nine Months of 20...

Exports to the European Union continue to grow, rising 13% year-on-year in the first nine months of 2025. Prices for Georgian wine in the EU remain consistently higher than global averages and prices in Russia, with notable variation across countries. Germany and the Czech Republic command higher prices, while Poland remains a high-volume, lower-price destination.Russia continues to be Georgia’s main export market. In 2024, Russia accounted for 66% of total Georgian wine exports, with Georgian wine making up 26% of Russia’s total wine imports. Georgia has strengthened its position as a leading supplier to Russia, offering competitive mid-range products, though average import prices remain lower than those of Italy, Poland, and Latvia.Georgian wine exports are also steadily growing in Central Asia, with Uzbekistan emerging as a particularly fast-growing market. Georgia’s share in Central Asian wine imports remains stable, with export prices aligned with or below local market averages, further enhancing the appeal of Georgian wine in these rapidly expanding markets.

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Food Spending Dominates Cashless Transactions via TBC Bank in November...

The largest share of these cashless transactions was spent on food, which represented 25% of total cashless spending, followed by restaurants at 14%.Cashless spending on food grew by 23% annually, with an average transaction amount of 17 GEL. Meanwhile, inflation for food and non-alcoholic beverages reached 10% over the same period.The data highlights the continued importance of cashless payments for everyday consumer goods in Georgia, with food remaining the leading category for TBC Bank customers.

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Consultations Held on Georgia–GCC Free Trade Agreement

The Georgian delegation was led by Genadi Arveladze, Deputy Minister of Economy and Sustainable Development, while the GCC delegation was headed by Abdulraza Al-Raidi, Director-General for Free Trade Agreements. The parties discussed the FTA’s structure and key areas, including trade in goods, safeguard measures, rules of origin, sanitary and phytosanitary standards, and technical barriers to trade.According to Arveladze, the consultations were productive and conducted within agreed timelines. He emphasized that Georgia welcomes the start of FTA negotiations with GCC member states and considers the agreement mutually beneficial for both Georgia and the Council’s members.The Tbilisi meeting followed a Georgian delegation visit to Saudi Arabia on December 16, underscoring ongoing efforts to strengthen economic ties and advance the potential FTA between Georgia and the GCC.

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Tbilisi records 3,627 apartment sales in one month

In November 2025, according to TBC Capital’s analysis, the selling price per square meter was $1,342, an increase of 4% year-on-year, and a decrease of -0.4% compared to the previous month.In the same month, the market volume amounted to $316 million (+5% year-on-year).In November 2025, the rental price per square meter amounted to $10.1, down 12% from November last year.As for yields, TBC Capital writes that the indicator amounted to 8.3%, down 1.4 percentage points from the same month in 2024.In November 2025, the number of new apartments sold in Tbilisi decreased by 35% year-on-year to 553. The number of old apartments sold amounted to 3,074, up 13% year-on-year. The share of new apartments in the total number of apartments sold amounted to 15%."TBC Capital" also writes that in November 2025, the largest share of apartments sold was again occupied by apartments with an area of ​​​​50 to 75 sq.m. Their share increased by 5 pp compared to November last year and amounted to 47% of total sales, as for apartments with an area of ​​​​75 to 125 sq.m., the share decreased by 2 pp annually, to 19%.Apartments with an area of ​​​​more than 125 sq.m. occupied the smallest share of total sales, 4%.In addition, in November 2025, apartments in the price category of $1,200-1,500 per square meter accounted for the largest share of apartments sold, while in November 2024, the largest share was occupied by apartments in the price category of $900-1,200 per square meter. The shares of higher price categories, $1,500-1,800 and $1,800, increased by 3 and 4 pp respectively in annual terms.According to the research of "TBC Capital", in November 2025, the largest number of transactions was again recorded in Didi Digomi. In terms of the number of apartments sold, the highest annual growth was recorded in Samgori (45%, y/y), followed by Krtsanisi (42%, y/y). The smallest annual increase is recorded in Chugureti.The highest average sale price is in Mtatsminda and Vake. The highest annual increase in average sale price was recorded in Nadzaladevi (+11%, y/y).

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Economic entities sold GEL 384.5 MLN worth of consumer goods in Georgi...

According to GeoStat, the most common organisational-legal form for economic entities engaged in organising markets and bazaars was the limited liability company, which accounted for 74.7% of the total number of operating markets and bazaars, whilst individual entrepreneurs accounted for 22.2%. The remaining markets and bazaars operated as joint-stock companies (2.1%) or cooperatives (1.0%).At markets and bazaars located on Georgian territory, an average of 135,000 people were trading in October 2025. Of these traders, 41.8% were trading in Tbilisi, 15.7% in the Imereti, Racha-Lechkhumi and Kvemo Svaneti region, 9.5% in Kakheti, 8.7% in Samegrelo-Zemo Svaneti, 7.0% in Shida Kartli, 6.7% in the Autonomous Republic of Adjara, 6.2% in Kvemo Kartli, 2.4% in Mtskheta-Mtianeti, 1.1% in Samtskhe-Javakheti, and 0.9% in the Guria region.According to the survey results, in October 2025, economic entities trading at Georgia’s markets and bazaars sold consumer goods worth 384.5 million lari. Of the value of goods sold, 25.9% was accounted for by the clothing and footwear commodity group, 23.3% by furniture and household items, 21.0% by food and non-alcoholic beverages, 11.6% by personal hygiene and other personal items, 8.2% by spare parts for vehicles, 6.4% by the commodity group for housing maintenance, repair and security, whilst the remainder was distributed amongst other leisure products (2.3%), alcoholic beverages and tobacco (0.6%), communications equipment (0.5%), and medicines and medical products (0.2%). The volume of trade turnover for economic entities trading in motor vehicles was estimated at 733.8 million lari.According to the survey results, in October 2025, 61.6% of the trade turnover volume of economic entities trading on the territory of markets and bazaars was accounted for by Tbilisi, 15.5% by the Imereti, Racha-Lechkhumi and Kvemo Svaneti region, 6.7% by the Autonomous Republic of Adjara, 4.0% by Samegrelo-Zemo Svaneti, 3.9% by Kvemo Kartli, 3.7% by Shida Kartli, 2.1% by Kakheti, 1.8% by Samtskhe-Javakheti, 0.4% by Guria, and 0.3% by the Mtskheta-Mtianeti region.

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Newly built apartments in Batumi have increased in price by an average...

According to recov.ge, a significant increase in the average weighted price in the secondary market was mainly observed in the Old Batumi and Rustaveli districts, which was mainly due to increased interest from foreign buyers. Note: Some transactions in the primary market are registered late, which is why the price growth trend does not reflect reality.In November 2025, the number of residential apartment transactions in Batumi increased by 22.2% compared to November last year and amounted to 1,550 units, while the market size increased by 45.1% to 97 million USD.In addition, in November 2025, the number of transactions in newly built apartments in Batumi increased by 24.8%, while a 5.7% decrease was recorded in the case of old apartments. The number of transactions in the primary market of newly built apartments increased by 25.9%, while an increase of 23.7% was recorded in the secondary market. Only 32% of the increase in transactions in the secondary market was accounted for by Georgian citizens, and 64% by foreigners.

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Apartment Prices in Tbilisi’s Central Areas Surge by Nearly 23%

On the primary market, newly built apartments in broad central areas saw a 24% increase, largely due to delayed registration of transactions by developers. On the secondary market, prices in these areas rose 20.1%, which recov.ge attributes to fewer transactions and the introduction of recently completed, high-end projects.Across the city, the average weighted price of primary market transactions increased 13.3%, while the secondary market rose 10.1%.For existing apartments, the average weighted price increased 12% in the suburbs, 18.4% in broad central areas, and 2.5% in the city center. The broad central area growth was mainly driven by transactions in Chugureti and Isani, with certain high-value projects skewing the average. Without these outliers, the growth in broad central areas would have been 8.8%.In November 2025, Tbilisi recorded 3,773 residential apartment transactions, marking a 2.2% increase compared to November 2024. The total market value grew 12%, reaching $299 million USD.Regarding new projects, transaction volume increased 4% year-on-year. On the primary market for new apartments, transactions were nearly unchanged, up only 0.2%, while the secondary market saw a 9.6% increase. Meanwhile, transactions in older projects declined 3.9%.The data reflects a strong demand for centrally located and newly built apartments, as well as a continuing shift towards the secondary market driven by high-end developments in Tbilisi’s broad central districts.

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Structural Imbalance Persists in Georgia’s Dairy Market

During the same period, milk imports increased significantly by roughly 50%, with the fastest growth observed since 2021. Meanwhile, the national herd of cattle has been steadily declining since 2021, and cow productivity continues to lag behind EU and regional benchmarks. This limits the potential for domestic production growth despite relatively stable output.As a result, growing domestic demand for both raw milk and higher-value dairy products is increasingly met through imports, including raw milk, milk powder, cheese, and butter. These imports are concentrated among a few supplier countries, predominantly within the European Union.Georgia’s dairy sector continues to experience steady growth in consumption, particularly for high-value dairy products. Cheese maintains a dominant position in the consumption basket, both in terms of volume and value, reflecting shifting consumer preferences and market trends.

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Georgia Spent $3.3 Million on Electricity Imports from Russia in Novem...

Electricity consumption in Georgia grew by 3.6% year-on-year to 1,200 GWh in November. Retail consumption decreased by 3.8% to 675 GWh, while large consumers’ usage rose 41.3% to 312 GWh. The Autonomous Republic of Abkhazia saw a 9.6% decline in electricity consumption to 213 GWh.The average weighted price on the balancing market in November was 5.53 US cents per kWh, a 0.8% decline compared to the same month last year. Monthly prices on the balancing market fell 5.3%, while the 11-month cumulative price increased 5.1% to 5.81 US cents per kWh.In November, Georgia imported 111 GWh of electricity, paying $3.3 million, with Russia as the supplier. Of this imported electricity, 30 GWh was directed to meet the needs of occupied Abkhazia.

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