As of the document, in June 2025, compared to the same period of the previous year, the estimated real growth in following activities contributed significantly: Information and communication, Manufacturing, Financial and insurance activities, Transportation and storage, Trade.Decline were registered in Construction and Energy sectors.

1753962556

About three-fourths of the all permits have been issued in four regions of the country, namely: 46.1% in Tbilisi, 12.3% in Kvemo Kartli region, 8.5% in Kakheti region and 6.8% in Mtskheta-Mtianeti region. It should be noted that in January-June of 2025, permissions were issued for the construction of multifunctional residential complexes, trade facilities, hotels, industrial enterprises, objects for agricultural purposes, and other buildings.1 540 objects (10.5% less compared to the previous year) with total area of 1 603.5 thousand square meters (0.2% more compared to the previous year) were completed in January-June of 2025.More than two-thirds of the completed constructions are distributed among four regions of the country, namely: 35.9 percent is located in Tbilisi, 12.6% - in Mtskheta-Mtianeti region, 11% - in Kakheti region, and 8.7% - in Kvemo Kartli region.

1753874352

The export season started in May and is expected to continue until the end of August.The main export market was again Turkey, with an 81.6% share of exports. The decrease in exports is associated with reduced interest from exporters due to the decline in prices in the Turkish market.The top 3 exporters to Turkey were: Bukaf Solutions, Georgia Urban Energy and Adjara Energy 2007. In addition, the main exporter to Armenia was Cross Border Trading.It is noteworthy that 52.6 GWh of electricity was exported to Turkey by the Georgian State Electric System, the purpose of which was to repay the historical debt with Turkey.In addition, export revenues almost halved (-43.8% y/y) and amounted to $19.2 million in the first half of 2025. The decrease is associated with a decrease in both volume and export price. The average export price decreased by 4% annually and amounted to 4.3 US cents per kWh.In the first half of 2025, 0.3 TWh of electricity was transited through Georgia to Turkey, 87.9% of which came from Azerbaijan, and the rest from Russia.According to a study by Galt & Taggart, electricity imports increased by 116.6% year-on-year to 1.0 TWh in the first half of 2025. 78.9% of imported electricity came from Russia, of which 58.6% was intended for consumption in Abkhazia.In total, the amount paid for imported electricity in the first half of 2025 amounted to $25.3 million, which is an average of 2.6 US cents per kWh.It is worth noting that imports to the Abkhazian region are carried out at a special price of 0.1 US cents per kWh, which has a significant impact on the average import price.

1753873972

Electricity supply in the first half of 2025 amounted to 7.6 TWh. Of this, 6.6 TWh was domestic generation (- 9.7% y/y), and 1.0 TWh (+13.0% y/y) was imported. In addition, the generation from both hydropower and thermal power plants decreased from domestic sources.The choice between thermal power plants and imports was made based on price.According to Galt & Taggart, the export season in 2025 traditionally started in May. For the last 2 years, exports have been made since April, which was due to high prices in Turkey, increased thermal generation and reduced consumption.In the first half of 2025, the export volume decreased to 0.4 TWh (-41.4% y/y), and the average export price to 4.3 US cents per kWh (-4.0% y/y). As a result, export revenues almost halved (-43.8% y/y) and amounted to $19.2 million.In the first half of 2025, Georgia was still a net importer of electricity, both in volume and value. In the first half of 2025, net imports amounted to $6.1 million and 0.5 TWh."The wholesale electricity price increased by 3.4% annually and amounted to 5.8 US cents. The highest share in the formation of balancing electricity is still held by PPA plants. The number of transactions in the market on the day before was still minimal, although it increased significantly compared to previous periods," - the Galt & Taggart publication reads.

1753873834

Limited Liability Company was the most prevalent legal form for economic agents engaged in organization of markets and it held 75.1% share of total number of active markets in 2024, while the Individual Entrepreneur held 21.8%. Other markets had the legal form of Joint Stock Company (2.1%) and Cooperative (1%).95.9 percent of markets were under private ownership in 2024, while rest of 4.1% were owned by the state.In 2024, all economic agents engaged in organization of markets occupied 2 million sq. m area combined. These markets were equipped with 61 vet laboratories, 1059 units of storage facilities with total area of 22.1 thousand sq. meters, and 366 units of cold storage (refrigerators) with 0.8 thousand tons of total capacity.In 2024, 36.1% of active markets were roofed (trade took place inside of buildings), 34.5% were open type markets (trade took place outside of the buildings), and 29.4% were semi-roofed (trade took place inside as well as outside of the buildings).In 2024, sellers carried out trade with food and non-food goods on territory of active markets. 31% of markets traded only with non-food goods, single market traded only with food goods, three market traded with cars as well, while three other markets traded only with poultry and livestock.Trading days differed by markets in Georgia in 2024: daily trade was carried out in 151 markets, while Sunday trade was organized in 25 markets, trade except Sunday was pursued in two markets, and for the rest of markets one-, two-, three-, or four-day trade was carried out during different days of week.The number of market-places in the markets reaches 47.4 thousand, with 36.5 thousand sellers per day on average.In 2024, the average annual number of persons employed in administration of economic agents engaged in organization of markets amounted to 2.7 thousand. 32.4% of these people were females, and 46.9% were based in Tbilisi.In 2024, income of economic agents engaged in organization of markets amounted to 194.4 million GEL. Issuance of trading rights licenses (one-time payment) generated 12 million GEL (6.2%) of this total income, renting out trade stands generated 167.6 million GEL (86.2%), while 14.8 million GEL (7.6 %) was other income. In the same period, total expenditures of economic agents engaged in organization of markets amounted to 115.2 million GEL, of which 47.7 million GEL was salary for employed persons.

1753783787

As of the document, the number of outpatient facilities was 2 288. Number of visits in medical institutions equaled to 15.8 million, which is 2.8% more compare to the corresponding indicator of 2023.According to the data of 2024, the number of doctors employed in medical institutions amounted to 24.1 thousand, and the number of nursing staff - 21.3 thousand.Compared to the previous year, the number of diseases registered (for the first time with a diagnosis) has increased in the following groups: diseases of the eye and adnexa increased by 18%, infectious and parasitic diseases - 15.4%, diseases of musculosceletal system and connective tissue - by 14.8%, diseases of the nervous system - by 13.6%, diseases of the respiratory system - by 11.4%.From main disease groups the most common in the population are diseases of the respiratory system, diseases of the eye and adnexa, diseases of the circulatory system, diseases of urogenital system and diseases of the musculoskeletal system and connective tissue.In 2024, the number of new cases of AIDS amounted to 615 units, which is 3 units less than the corresponding indicator of 2023, and the total (cumulative) number of people living with HIV/AIDS amounted to 10 006. There were 131 deaths from HIV/AIDS during the 2024 year.In 2024, the number of new cases decreased by 11.7 percent. Morbidity with tuberculosis decreased by 9.2% and amounted to 1,311. In 2024, emergency care was provided to approximately 1.1 million people, of which 99% of cases were related to sudden illness.

1753783697

As of June 2025, the number of transactions of residential flats in Batumi has increased by 25.1% to 1,357 units. The market size has increased by 41.5% standing at USD 76 millions. It should be noted that the increase in transaction volume is largely attributed to a significant 19% decline in transactions in June of the previous year.In June 2025 the weighted average price of newly-built flats in Batumi increased by 11.8% equaling USD 1,185 per sq m. The weighted average price increased in both primary (9.4%) and secondary (10.3%) markets. It should be noted that some primary transactions are registered late, resulting in a price growth trend that does not reflect reality.In the first half of 2025 the weighted average price of newly-built flats in Batumi increased by 16.1% equaling USD 1,184 per sq m, while the figure for old flats recorded a 20% increase to USD 1,169 per sq m.As of the first half of 2025, the number of transactions of residential flats in Batumi has increased by 4.8% to 7,129 units, compared to the first half of the previous year. The market size has increased by 16.1% standing at USD 397 millions.

1753355164

As of the first half of 2025 the weighted average price of newly-built flats in Tbilisi has increased by 20.6% in the wide centre. Meanwhile 10.5% and 7.4% growth was witnessed in the suburbs and city centre, respectively. The most significant price change was observed in the wide centre, which was driven by the fact that in H1 2024, transactions from two large projects spanning 3-4 years were registered all at once. This caused a decrease in the weighted average price at that time. Without these projects, prices in the wide centre increased by 8.8%.In June 2025, the number of transactions in new projects in Tbilisi increased by 8.8%, driven by growth in the secondary market. In contrast to previous months, transactions in older projects also experienced an upward trend, with a notable 16.6% increase compared to June 2024. This upward trend can also be attributed to the notable drop in transactions recorded in June of last year.As of June 2025 in Tbilisi the weighted average price of old flats has increased by 10.6% in the suburbs compared to June 2024, in the city centre 9.8% growth was witnessed, while in the wide centre the weighted average price increased by 6.1%.As of the first half of 2025 in Tbilisi the weighted average price of old flats has increased by 7.8% in the city centre. While 9.8% growth was witnessed in the wide centre and suburbs.In the first half of 2025, in Tbilisi the number of transactions of residential flats amounted to 19,205 units, reflecting 0.6% YoY decrease. Market size increased by 11% standing at USD 1.4 billion. Note: The methodology of price analysis has been updated for new projects, which has resulted in changes in 2022-2025 figures.

1753355078

DemandIn Jun-25, total number of sold apartments in Tbilisi, according to the Public Registry data, stood at 3,266 units, of which:• Sales on the secondary market continued to increase, up by 17.1% y/y, however, still down cumulatively in 6M25 by 2.6% y/y. • Sales on the primary market, where data are impacted by delayed registrations, increased by 2.9% y/y and up cumulatively by 6.1% y/y in 6M25.G&T’s real-time survey of developers, which captures current trends on the primary market, showed a 12.9% y/y increase in Jun-25, largely due to a low base in Jun-24. However, sales fell by 9.7% m/m after a rebound in May. Cumulatively, primary market sales were up 3.6% y/y in 6M25. In total, 19,131 transactions were registered in Tbilisi in 6M25, bringing the residential market value to US$ 1.5bn (+5.6% y/y).Supply In Jun-25, construction permits were issued for 10 residential projects, with total living area reaching 92,244 sq.m. (+25.2% y/y, due to last year’s low base). Overall, permit issuance in 6M25 was down 0.4% y/y.PricesIn Jun-25, primary market price was up by 0.5% to US$ 1,338 following a slight decrease in May. Likewise, the average price on the secondary market (for new buildings built with permits issued after 2013) was up 0.2% m/m to US$ 1,256.RentsIn Jun-25, price for renting an average apartment (50-60 sq.m.) in Tbilisi increased by 1.2% m/m to US$ 9.4 per sq.m., still down 4.9% y/y

1753354928

In the second quarter of 2025 a price decrease compared to the previous quarter was registered both in flats (-0.6 percent) and detached houses (-2.5 percent) segments.Compared to the second quarter of 2024, the prices increased in both segments, for flats by 5.2 percent and for detached houses by 5.7 percent.The following graph represents the median prices of 1m2 in the newly-built residential properties in the second quarter of 2025 in Tbilisi, by districts.

1753269195