According to Galt & Taggart’s monthly economic review, Georgia’s external inflows, including goods exports, remittances, and tourism revenues, grew by 16.6% year-on-year in January, reaching USD 1.1 billion.
Breaking it down, goods exports rose 19% to USD 480.4 million, tourism revenues increased by 13.4% to USD 325.3 million, and remittances grew 16.6% to USD 282.6 million.
Based on these trends, the investment bank projects key macroeconomic indicators for 2026, including an expected economic growth rate of 6% and a refinancing rate of 7.5%.
Galt & Taggart’s report highlights the continued recovery of the Georgian economy, supported by rising exports, robust remittances, and tourism activity.
Top 3 highlights from Georgia’s monthly economic review:
1. Growth exceeded expectations
Real GDP growth came in stronger-than-expected at 7.9% y/y in Jan-26 (vs 7.2% y/y in Dec-25), marking a solid start to the year. We forecast 6.0% growth in 2026.
2. External inflows strengthened
External inflows rose 16.6% y/y to US$1.1bn in Jan-26, with broad-based gains across goods exports, tourism revenues and money transfers.
3. GEL remained on an appreciating trend
GEL strengthened by 0.6% m/m in Feb-26. We expect the average GEL/US$ exchange rate at 2.68 in 2026.
