Russia Becomes The Main Partner of Georgia In Trade Instead of Turkey

As a result, the country's international reserves amount to 4.52 billion USD.According to the National Bank, the accumulation of international reserves is one of the important guarantees of Georgia's macroeconomic stability. So, when there is an appropriate opportunity in the market, the NBG actively uses the policy of replenishing reserves.The foreign exchange interventions carried out by the National Bank on the Bmatch platform during 2025 look like this: In January-February – no net purchase was carried out March – net purchase of 101.7 million USD April – net purchase of 266.4 million USD The National Bank plans to publish updated data on operations carried out in the foreign exchange market on June 25, 2025.

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TBC Capital predicts that the FMCG and HORECA industries are expected to maintain sustainable growth rates in the coming years.“While domestic beer production volumes remained largely unchanged in 2024, price changes significantly increased the value of manufactured goods.The annual figures also show increased demand for imported beer.The increased domestic demand, especially for imported beer, is reflected in a significant increase in imports and a decrease in exports,” the study says.In more detail, according to the study, in 2024, local beer production in Georgia increased by 1% compared to the previous year and amounted to 127 million liters, and the average price per liter was 2.8 GEL. As for consumption, according to the study, in 2024, 138 million liters of beer were brewed in Georgia, of which 87% came from local production and only 13% from imports. In 2023, consumption was 125 million litres, of which 10% came from imports.In addition, according to TBC Capital, imports last year amounted to 15.5 thousand tons, which is 3.8 thousand tons more than in 2023. The export rate decreased by a thousand tons, from 6.9 thousand tons to 5.9 thousand tons.

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Lion Finance Group (BGEO LN) shares closed at GBP 66.85/share (+5.03% w/w and +17.90% m/m). More than 251k shares traded in the range of GBP 64.00 - 67.75/share. Average daily traded volume was 65k in the last 4 weeks. The volume of BGEO shares traded was at 0.57% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 45.80/share (+0.88% w/w and +1.78% m/m). More than 242k shares changed hands in the range of GBP 43.75 - 46.45/share. Average daily traded volume was 93k in the last 4 weeks. The volume of TBCG shares traded was at 0.43% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 19.02/share (+1.49% w/w and +24.15% m/m). More than 163k shares traded in the range of GBP 18.44 - 19.54/share. Average daily traded volume was 99k in the last 4 weeks. The volume of CGEO shares traded was at 0.41% of its capitalization.

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Compared to the corresponding quarter of the previous year, the Unit Value Index of Agricultural Products increased by 13.3%. The latter was largely caused by the 51.6% increase in the unit value of non-perennial crops, which contributed 9.09 percentage points to the total index change.In the same period, the unit value of perennial crops went down by 2.6 percent and went up by 10.2% for live animals and animal products, with the relevant contribution of -1.16 and 5.39 percentage points to the total index change, respectively.

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According to the survey results, the main source of household income is cash incomes and transfers. In 2024, this share increased by 2.7 percentage points compared to the previous year, amounting to 90.4 percent. The figure was 94.9 percent in urban areas and 81.7 percent in rural areas.The average monthly income per household in urban areas increased by 12.6 percent, amounting to 1 978 GEL, while in rural areas it increased by 5.5 percent, equaling 1 755 GEL.In the structure of cash incomes and transfers, the largest share is held by incomes received from wages, which decreased by 0.3 percentage points compared to the previous year, reaching 47.6 percent. The share of self-employment income increased by 0.9 percentage points, amounting to 12.7 percent. The share of income from pensions, scholarships, and social assistance increased by 0.4 percentage points, reaching 22.3 percent. The structure of cash incomes and transfers differs between urban and rural settlements.In 2024, the average monthly expenditures per household in Georgia increased by 5.2 percent compared to the previous year, reaching 1 736 GEL, while the average monthly expenditures per capita increased by 8.2 percent, amounting to 540 GEL.According to the survey results, in 2024, the share of household cash consumption expenditure in total expenditures decreased by 0.4 percentage points compared to the previous year, amounting to 69.9 percent.The average monthly expenditures per household in urban areas increased by 6.3 percent, amounting to 1,813 GEL, while in rural areas it increased by 3.4 percent, equaling 1,603 GEL.In the structure of cash consumption expenditure, the largest share is held by expenditures on food, beverages and tobacco, which decreased by 0.5 percentage points compared to the previous year, reaching 38.1 percent. The structure of cash consumption expenditure differs between urban and rural settlements.

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The main supplier of wine to the United States is traditionally France. In 1Q25, $761.6 million worth of wine was imported from France to the United States.Italy is in second place ($578 million), and New Zealand is in third place ($130.7 million).According to AAWE, Israel (in 11th place with $13.1 million) and Moldova (in 12th place with $8.3 million) are also among the Top-20 wine suppliers to the United States.On April 2, the United States announced large-scale trade tariffs. The 10% tariffs affected a portion of Georgia's exports, including wine, which came into effect on April 5, 2025.For reference, in 2024, the US imported $141 million worth of Georgian goods, including $7.1 million in wine exports.

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A final dividend may only be paid after it has been approved by shareholders. The Board recommends a final dividend for the year ended 31 December 2024 of GEL 5.55 per ordinary share of the Company payable in British Pounds Sterling.The Georgian Lari to Pound Sterling exchange rate that will apply to the final dividend payments on the conversion date of 13 June 2025 will be  the  average exchange rate of the National Bank of Georgia for the period from 9 June 2025 to and including 13 June 2025 (5 days average). Subject to approval by shareholders, the final dividend will be paid on 11 July 2025 to shareholders on the register of members at 6:00 pm (London time) on 6 June 2025.The decision was supported by 100% of shareholders - 39,981,537 shares, with no votes against. 71.13% of the company's issued shares participated in the vote.The Group's AGM was held in London on 20 May 2025.

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Natia Turnava briefed on the current situation in the country in terms of macroeconomic and financial stability to the members of the IMF mission, led by Alejandro Hajdenberg.According to the President of the NBG, the National Bank remains committed to the existing monetary policy framework, within which the central bank successfully ensures price stability.The International Monetary Fund mission, which is being carried out within the framework of consultations provided for in Article IV of the IMF’s Articles of Agreement (“Article Four Consultations”), began its work in Georgia on Wednesday.The mission aims to provide the IMF with a review of the current macroeconomic situation in Georgia, as well as the country’s fiscal and monetary policies.The meeting held at the National Bank was also attended by Vice Presidents of the National Bank of Georgia Ekaterine Mikabadze, Ekaterine Galdava and Nino Jeladze. IMF Resident Representative in Georgia Andrew Jewell and heads of NBG departments.In the coming days, the IMF mission will hold working meetings with the Macroeconomics and Statistics, Financial Stability, Financial Markets, Specialized Risks and other departments of the National Bank.At the end of the visit, the mission will hold a summary meeting with the President of the National Bank Natia Turnava and representatives of the ministries of economic profile.The President of the NBG stated about the absence of disagreements with the IMF last week, when presenting the annual report to the parliament. He considered that the open issues have been exhausted and nothing prevents the discussion of further cooperation.As you remember, the IMF’s suspended $280 million program was tied to obligations to be fulfilled within 36 months.The fund had questions about the introduction of the post of First Vice President of the National Bank, which draft was vetoed by President Zurabishvili.This was in February 2023, and in June the parliament returned to the issue (similar to Russian law, although the difference was in the time interval of 1 year and half a year). The veto was overcome and Turnava became First Vice President.Added to this was Turnava’s adoption of an exceptional rule on the implementation of international sanctions, which opponents of the government linked to the sanctioning of Partskhaladze.Third, there was the issue of state-owned enterprise reform.

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