Service Exports Increased by 10.3%

In September 2026, compared to the same period of the previous year, significant contributions to growth came from the following sectors: construction, information and communication, mining and quarrying, trade, and financial and insurance activities.A downward trend was observed in the manufacturing and the administrative and support service activities sectors.

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Highlighting established energy arteries and new clean energy ventures, Kobakhidze underscored the continental importance of the bilateral energy alliance.“Energy represents another critical dimension of the strategic relationship between Georgia and Azerbaijan. Jointly executed projects, including the Baku–Tbilisi–Ceyhan oil pipeline, the Baku–Tbilisi–Erzurum gas pipeline, the Baku–Supsa pipeline, and the Southern Gas Corridor, have for many years ensured the reliable transit of energy resources and strengthened both regional and European energy security.Furthermore, Georgia, alongside Azerbaijan, Romania, and Hungary, is actively developing the Green Energy Corridor, designed to transmit renewable energy and closely integrate the South Caucasus into the European energy market,” the Prime Minister added.Kobakhidze noted that the bilateral agenda encompasses extensive cooperation across defence, culture, education, agriculture, healthcare, tourism, and customs administration.“We stand ready to reinforce existing links and foster new joint initiatives. Prime Minister, today’s session allows us to review our shared achievements, examine current challenges, and agree on future priorities. I am confident that the commission’s work will advance concrete projects and unlock new opportunities for both our nations,” Kobakhidze concluded.

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Highlighting the momentum behind high-level political dialogue, Asadov pointed to key leader visits as pivotal drivers of bilateral cooperation.“The dynamic pace of high-level political dialogue plays an essential role in deepening our ties. President Ilham Aliyev’s visit to Georgia in April, alongside your visit to Azerbaijan in May, was particularly significant. These engagements and the resulting agreements reaffirm the strategic depth of our relationship and bolster cooperation across multiple sectors. Furthermore, our nations consistently support one another within international organisations, particularly regarding territorial integrity and sovereignty,” Asadov noted.Turning to commercial ties, the Azerbaijani Prime Minister emphasised robust growth across trade and investment.“Trade and economic relations are demonstrating very positive momentum and expanding steadily. Georgia is Azerbaijan’s primary trading partner. Over the first nine months of this year, bilateral trade turnover surged by more than 40% year-on-year, reaching USD 1 billion,” Asadov stated.“Investment cooperation is showing similarly strong dynamics. Azerbaijan’s total investment footprint in Georgia stands at approximately USD 4 billion. Meanwhile, our jointly executed mega-projects, including the Southern Gas Corridor, play a vital role in ensuring energy security for both our region and wider Europe,” Asadov concluded.

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The number of international visitors reached 2.2 million, rising by 3.1% year-on-year. Russian citizens accounted for the largest share at 26.7% (596,800 visitors), followed by Turkey at 14.5% and Armenia at 11%. The largest number of visits was also made by citizens of Russia (695,800), Turkey (398,100) and Armenia (316,200).Leisure, entertainment and recreation accounted for 58.8% of visits. Tbilisi and Adjara were the most visited destinations, recording 1.35 million and 1.29 million visits, respectively. The average stay increased 2.2% to 6.4 nights, while 76.7% of visits were repeat visits.Despite the increase in visitor numbers, spending declined. International visitors spent GEL 5.7 billion during the quarter, down 8.2% year-on-year. Average expenditure per visit fell 11.1% to GEL 2,194.4.

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Nearly three-quarters of these permits are concentrated in four regions of the country: specifically, 48.1% of the planned construction work is located in Tbilisi, 8.9% in the Kvemo Kartli region, 8.2% in the Kakheti region, and 7.8% in the Autonomous Republic of Adjara.It is worth noting that between January and September 2026, permits were issued for the construction of various types of structures, including multifunctional residential complexes, commercial facilities, hotels, industrial enterprises, agricultural facilities, and other buildings. According to Geostat data, 2,307 facilities - covering a total area of ​​2,543.6 thousand square meters - were put into operation during the period from January to September 2026. This represents a 2.8% increase in area and a 5.9% decrease in the number of facilities compared to the same period of the previous year.More than two-thirds of the facilities put into operation are located in four regions of the country: specifically, 32.5% are in Tbilisi, 13.9% in the Mtskheta-Mtianeti region, 12.2% in the Kakheti region, and 8.6% in the Kvemo Kartli region.

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In the category "Application of Artificial Intelligence in the Financial Sector," the team "Goni" emerged as the winner. The team members were awarded a prize of 20,000 GEL from GITA to further develop their prototype. Additionally, with the support of Tether and Pave Bank, the Goni team will travel to Dubai to attend the global technology exhibition, GITEX Global 2026.The team "Faeda AI" was named the best in the category "Diagnostics and Benchmarking of Open Banking APIs." The team members earned the opportunity to attend the Singapore FinTech Festival 2026 - Asia’s leading fintech event - where they will present their project on an international stage.The fintech hackathon focused on the fields of artificial intelligence and open banking. Participants worked on addressing key challenges within the financial sector, including API diagnostics and benchmarking, credit risk assessment, fraud detection, and the optimization of operational processes.In her remarks, Natia Turnava noted that fostering innovation requires an environment that facilitates the testing of new ideas and the development of technological solutions for real-world problems. "Innovation gains meaning when it moves beyond the realm of mere ideas and begins to solve real-world problems. Open banking and artificial intelligence are key drivers in the transformation of financial services. By enabling secure access to financial data - with the user's consent - open banking lays the groundwork for increased competition, the development of innovative products, and the provision of better services to consumers. Meanwhile, artificial intelligence assists financial institutions in processing information more efficiently, assessing risks, and detecting fraud. Furthermore, technological progress must be grounded in a responsible approach, security, and transparency," stated Natia Turnava.The Governor of the National Bank also highlighted the role of the regulator in the process of fostering innovation within the financial sector. She noted that it is essential for the regulator not to merely observe technological shifts, but to actively develop its own relevant knowledge and practical experience. The Fintech Hackathon, held as part of the Tbilisi Financial Summit, aimed to foster the creation of innovative and scalable products in financial technology, empower local and international tech talent, and advance the development of artificial intelligence and open banking within the financial sector.

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“I am confident that the Tbilisi Financial Summit will attract even more attention in the coming years as it continues,” the SWIFT representative noted.He also discussed the topics addressed during the summit’s discussions, particularly in the field of financial technology.“Today, several inevitable global trends are impacting Georgia and the region as a whole. In this regard, I would highlight stablecoins and digital assets, which are shaping the fintech and banking industries. We have seen that both traditional and new infrastructures can interact with one another and in the near future, we will see them working together for the benefit of consumers-ensuring instant, seamless payments both domestically and cross-border,” Cem Soydemir stated.During the summit, Cem Soydemir participated in a panel discussion titled “Developing Infrastructure for Regional Connectivity,” alongside Ekaterine Galdava, Vice Governor of the National Bank of Georgia (NBG).The main topics of the discussion included cross-border payment development, financial infrastructure interoperability and the strengthening of regional financial ties.Panelists, who possess significant international expertise in cross-border payment development and payment infrastructure interconnection, shared their experience and insights on opportunities and challenges in building fast, secure and efficient payment systems based on practices from various countries.This year, the Tbilisi Financial Summit hosted nearly 1,000 participants from around 60 countries.

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The main topics of the discussion included the development of cross-border payments, the interoperability of financial infrastructure, and the strengthening of regional financial ties.Panel participants, who possess significant international experience in developing cross-border payments and interconnecting payment infrastructures, shared their insights and perspectives on the opportunities and challenges of developing fast, secure, and efficient payments based on practices from various countries.The conversation also touched upon the potential of using products and services based on both traditional payment technologies and stablecoins in international payments, alongside the associated regulatory challenges.Ekaterine Galdava shared the vision and experience of the National Bank of Georgia as a regulator with the participants, highlighting the central bank's efforts in developing payment infrastructure, fostering innovation, and managing relevant risks."For the development of cross-border payments, it is important not only to introduce modern technologies but also to ensure the interoperability of payment infrastructures, the establishment of common standards, and cooperation among regulators. The National Bank of Georgia is actively working on both modernizing the current payment infrastructure and implementing new systems and services. Furthermore, we are open to innovative technologies; we study their capabilities and challenges, and we strive to create a regulatory environment that fosters innovation while ensuring the effective management of associated risks," stated Ekaterine Galdava.Joining Ekaterine Galdava in the panel discussion were Cem Soydemir, Head of Payments Market Development for MENA, TCIS & India at Swift; Dr. Kishan Srinivas, Head of Business for Europe, GCC & Central Asia at the National Payments Corporation of India (NPCI); and Liu Heng, Vice President at UnionPay International. The discussion was moderated by Zdeněk Tůma, Former Governor of the Czech National Bank.The Tbilisi Finance Summit was co-organized by the National Bank of Georgia, the Ministry of Economy and Sustainable Development of Georgia, and the Global Finance & Technology Network (GFTN). It serves as a major international platform for dialogue on financial technologies, innovations, and regional cooperation.

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