The latest review by Galt & Taggart shows that several main indicators point to accelerating growth in Georgia’s economy, with tourism, foreign trade and financial markets all posting notable gains toward the end of the year.
Tourism emerged as one of the strongest drivers. In the fourth quarter of 2025, tourism revenues increased by 9.2% year-on-year to USD 1.1 billion. For the full year, revenues reached USD 4.7 billion, slightly exceeding Galt & Taggart’s earlier forecast. Looking ahead, the investment bank expects tourism income to rise further to USD 5.0 billion in 2026, reflecting sustained demand and improved sector performance.
Foreign trade figures also reached record levels. In December 2025, merchandise exports rose sharply by 22.5% year-on-year to USD 673.2 million, largely supported by growth in domestic exports. Imports increased by 8.5% to USD 1.8 billion, driven mainly by higher inflows of capital goods, fuel, industrial inputs and food products. On an annual basis, total exports in 2025 amounted to USD 7.3 billion, while imports reached USD 18.5 billion, both the highest levels recorded to date.
Financial market activity remained robust as well. On January 20, the Ministry of Finance conducted a treasury securities auction that attracted strong investor interest. Demand significantly exceeded the amount offered, leading to a decline in the average weighted interest rate.
