Economy of Georgia

The main articles are:

• Georgia
• World economy

GDP

Main article: GDP of Georgia

National debt

2023: State debt - 42% of GDP

Currency: Lari

2022: Strengthening lari to 2.71 per dollar amid inflow of transfers from Russia during Ukraine conflict

In August 2011, the National Bank of Georgia is trying to contain the strengthening of the lari. On Wednesday, the regulator - not for the fourth time since May - acquired $40 million at a foreign exchange auction, writes Novosti - Georgia. Now the lari against the dollar is trading at 2.71, and on March 10, the rate was 3.4 lari for $1. This strengthening is partly due to a sharp increase in remittances to Georgia, including from Russia, against the background of the migration of some workers during the conflict in Ukraine.

Investments

2023: Foreign direct investment in Georgia shrank 15% to $1.9 billion over the year

The volume of foreign direct investment in Georgia in 2023 decreased by 15% compared to 2022 and amounted to $1.9 billion. This is evidenced by the data of the National Statistics Service of Georgia "Saxtat," published in August 2024.

According to Saxtat, the main reason for the corresponding changes is the clarification of the indicator of reinvestment and loan volume by several enterprises. The top three countries for investment in Georgia in 2023 included Holland, Britain and the United States.

Cryptocurrencies in Georgia

Main article: Cryptocurrencies in Georgia

Remittances

Main article: Remittances (Georgian market)

Inflation

2022: Inflation in November - 10.6%

Transport infrastructure

• Middle Corridor (Trans-Caspian International Transport Route)

Foreign trade

Trade with Russia

Main article: Trade between Russia and Georgia

2025: Increase in imports of petroleum products to Georgia by 4% to 1.35 billion

At the end of 2025, imports of petroleum products to Georgia in value terms increased by 4% and amounted to $1.35 billion. Compared to 2024, in 2025, oil products were imported by 13% more - 1.8 million tons. This is evidenced by data from the National Statistics Service, released in January 2026. A third of all supplies fall on Russia - 693.6 thousand tons (a decrease of 0.6%), in value terms imports decreased by 8% and amounted to $477 million.^[1]

2024

Wine export growth by 6.6% to $274.7 million

In 2024, the export of grape wines from Georgia reached $274.7 million, which is 6.6% more compared to the previous year earlier. This is evidenced by data from the country's National Statistics Service, which was released in January 2025.

Russia continues to play a key role in the structure of wine exports, which accounts for 66% of all supplies. In 2024, the supply of Georgian wine to the Russian Federation increased by 8.5%, reaching $182.6 million. Russia is followed by Poland with a supply of $16.6 million (an increase of 10%), and Ukraine closes the top three with $12.4 million.

Tbilisi

Exports of other alcoholic beverages from Georgia to Russia in 2024 increased 2.3 times, reaching $155 million. Deliveries of these products to Armenia amounted to $48 million, which is 3% less than in 2023.

Georgian authorities intend to significantly increase wine exports in the future, setting a goal of reaching $500 million by 2028. This goal confirms the importance of the wine industry for the country's economy and its desire to expand its presence in international markets.

In general, Georgia in 2024 supplied 94.7 thousand tons of wine abroad (89.5 thousand tons a year earlier) - this is the second result for the country in recent history. Russia continues to be the main buyer of Georgian wine for more than ten years - in 2024, the Russian Federation accounted for two-thirds of all Georgian supplies.

Russia in 2024 increased purchases of Georgian strong alcohol, mainly cognac, by 2.3 times, to a record $154 million, follows from the data of the Georgian statistics service. So, for the entire 2024, Georgia exported strong alcohol to Russia for $154 million against $67.4 million a year earlier. The second place was taken by Poland, which increased the import of Georgian alcohol by 10.3%, to $16.6 million.^[2]

Rising imports from China, Germany and the EU

Total exports China to, and Armenia Azerbaijan Georgia reached $1.1 billion in the first quarter of 2024 compared to $0.4 billion in the first quarter of 2019. This 150% growth is clearly not to meet any boom in domestic demand in the Caucasus. All these goods are sent to, Russia said chief economist IMF Robin Brooks in May 2024.

2023: Rising imports from China

2022: Georgia's share of US supply of silicomanganese - 28%

As of 2023, Georgian enterprises supply 28% of silicomanganese to the United States. This is a brittle alloy of iron, silicon and manganese used in metallurgy to give iron-based alloys strength, wear resistance and impact resistance.

2018: Clothing exports - $83 million

Energy carriers

2025: Growth in gas supplies from Russia by 40% to 560 million cubic meters

According to Gazprom, in 2025, Russian gas supplies to Georgia increased by 40.4%. This figure turned out to be almost twice the growth rate of exports to the countries of Central Asia, where the growth was 22.2%.

Against the background of a decrease in the share of Azerbaijani gas and an increase in domestic energy consumption, Russian gas has again become a key element of the energy balance in Georgia.

2023: 16.5% increase in natural gas imports from the Russian Federation to 486 thousand tons or $131 million

In 2023, 2.3 million tons of natural gas were supplied to Georgia from abroad, which is 0.2% less than a year earlier. At the same time, imports from Russia increased by 16.5%, to 486 thousand tons. This was announced at the end of January 2024 by the Georgian Statistics Service.

According to Interfax, in monetary terms, imports of Russian gas to Georgia in 2023 increased by 18% compared to 2022 - to $131 million. The Ministry of Economy and Sustainable Development of Georgia explained a significant increase in gas purchases in the Russian Federation by mastering the maximum technical limit for supplies from Azerbaijan during the winter peak of the load. The growing demand and the system as a whole were balanced due to the supply of Russian gas. In addition, imports were carried out with commercial expediency and served to ensure stable and continuous supplies to the system, the department added.

Natural gas imports from Russia up 16.5%

As for gas imports from Russia, you know that Azerbaijan cannot fully meet our needs, and therefore we have to supply gas to Georgia from alternative sources in order to freely supply the country with energy, we are talking about both the household sector and the economy, - said the Minister of Economy and Sustainable Development of Georgia Levan Davitashvili.

According to him, Georgia receives energy resources from Azerbaijan and Russia at the lowest price compared to other countries in the region. In 2023, there was a decrease in gas imports from Azerbaijan - by 4% in physical terms, to 1.84 million tons, and by 9.2% in monetary terms, to $314 million. In addition, a quadruple increase in gas imports from Iran was recorded - up to $142 thousand. The share of Azerbaijan in the volume of natural gas imports in 2023 decreased to 78.5% from 81.6% in 2022, and the share of the Russian Federation increased to 21.5% from 18.5%. Iran accounted for 0.003% of supplies in 2023.

2022: Russia is the largest fuel supplier to Georgia

As of September 2022, Georgia has purchased goods worth $1.06 billion from Russia since the beginning of the year. This is 68% more than a year earlier. According to Saxtat, the first place in imports from Russia is occupied by oil, the volume of which this year increased by 300% to $337 million. As a result, Russia has become the main fuel supplier country for Georgia.

The share of oil from Russia from 16% of total imports in 2021 turned into 63% in September 2022.

Power

2024: Electricity supplies from Russia to Georgia soared 14 times in a year

The National Statistics Service of Georgia recorded an increase in imports of Russian electricity by 13.7 times in 2024, reaching a volume of $12.3 million. This was reported in the department on February 9, 2025. Russia retained the position of the largest supplier of electricity to Georgia. Read more here.

2022: Black Sea Energy - agreement to export electricity to the EU under the Black Sea

• Black Sea Energy - a project of an underwater cable along the bottom of the Black Sea for the transmission of electricity from Azerbaijan.

2020: Energy consumption per capita

and

Real estate

2023: Real estate sales in Georgia decreased after the departure of Russians by 5.9% to 74.2 thousand

At the end of 2023, the number of real estate purchase and sale transactions in Georgia amounted to about 74.2 thousand. This is 5.9% less than in the previous year, when the figure was 78.8 thousand. The negative dynamics is partly due to the departure of the Russians. Market data is provided in the BusinesStat review published in mid-September 2024.

The study looks at villas and townhouses, land plots and apartments. According to estimates, in 2019, 58.9 thousand real estate purchase and sale transactions were made in Georgia, which is 2.7% higher than in 2018. But in 2020, a 19.9% decline followed with a final result of 47.2 thousand. Restrictions during the COVID-19 pandemic led to a decrease in tourist flow: 1.7 million foreign citizens visited Georgia over the year, which is 81% less than in 2019. In addition, work on construction sites was stopped, and transport was interrupted, which negatively affected the pace of construction.

In 2021, the industry began to recover: the number of real estate transactions in Georgia rose by 34.4%, amounting to 63.5 thousand. In 2022, the number of transactions reached a record value of 78.8 thousand, exceeding the 2021 figure by 24.2%. In 2022, about 1.5 million Russian citizens entered Georgia and about 40% of apartments bought by foreigners were purchased by Russians. In 2023, there was a fall: experts associate this situation with market adjustment after rush demand.

The review says that real estate in Georgia is an attractive way to invest funds for investors from all over the world due to high rental profitability, a growing but acceptable price per square meter, flexible tax system when buying real estate from $100 thousand. In addition, further GDP growth, a decrease in the unemployment rate, the development of large infrastructure projects are expected in the country, the tourist flow is growing, and in 2023 Georgia became a candidate country for joining the EU.^[3]

2022: Russians buy 15,164 properties in Georgia

Against the background of the conflict in Ukraine, Russians in 2022 bought 15,164 real estate in Georgia.

Richest people

Main article: The richest people in the world

2021: The richest 1% of citizens account for 28.2% of the country's wealth

Communications Market

Main article: Communication (Georgian market)

Data centers in Georgia

Main article: Data centers in Georgia

Tourism

Main article: Tourism in Georgia

Agriculture

2019: Average use of pesticides in agriculture

Consumption

2023: Poultry meat is the most consumed type of meat

2019: Poultry meat is the most consumed type of meat

Notes