Vakhtang Tsintsadze, the Deputy Economy Minister of Georgia, said domestic exports had surged by 39% in October year-on-year, reaching a total of USD 681.7 million in revenue.

“The export growth between January to October exceeded 7% culminating in a record total of USD 5.5 billion.

The country is experiencing a rise in foreign exchange inflows, the increase is driven not only by exports but also by growing income from tourism.

The foreign exchange inflows from service exports are also robust, which positively influenced key macroeconomic indicators.

Macroeconomic fundamentals in the country are quite robust, characterised by high economic growth. With inflation remaining below the target level, we have solid grounds for positive expectations.

This suggests that Georgia is likely to sustain higher economic growth in the coming months and years than what is currently predicted by international financial institutions.

It is worth noting that our macroeconomic indicators for 2024 have shown significant improvement, with upgrades made by several international financial institutions. This serves as a positive signal for both domestic and international investors”, - said Vakhtang Tsintsadze.