Real GDP grew 7.5% in 2025, with a 4.6% deflator behind the rest of the nominal increase

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Georgia's real GDP grew 7.5% in 2025 on provisional figures from Geostat, slower than the 9.7% recorded in 2024, while the GDP deflator eased to 4.6% from 4.9%. Output measured at current prices reached 104598.1 million GEL, an increase of 11575.8 million on the 93022.3 million recorded in 2024.

The split between the two matters for anyone reading revenue, budget or credit lines denominated in lari. At constant prices output rose to 72708.5 million GEL from 67660.0 million, and that is the volume gain; the remainder of the increase in the current-price total is price change. Set against real growth of 7.5%, the 4.6% deflator accounts for a little over a third of the combined movement in the nominal value of output.

Over three years the pattern is a steady volume expansion with a higher price component than at the start of the period. Real growth was 7.8% in 2023, 9.7% in 2024 and 7.5% in 2025, while the deflator stepped up from 2.9% in 2023 to 4.9% in 2024 before easing slightly in 2025. Nominal GDP has risen from 80882.8 million GEL in 2023 to 104598.1 million in 2025, a gain of 23715.3 million, a larger share of which is price rather than volume than was the case in 2023.

The 2025 figures — the current-price total, the constant-price total and the deflator alike — are provisional and Geostat revises them. Because nominal GDP is the volume change and the price change taken together, a revision to one side moves the other for a given current-price total, so the 7.5% and the 4.6% should be read as a pair rather than as two independent estimates.

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Figures in this post

Every number below was checked against the source before publication.

• GDP_CONSTANT_PRICES_A GDP at constant prices, annual National Statistics Office of Georgia (Geostat) — downloaded files
• GDP_CURRENT_PRICES_A GDP at current prices, annual National Statistics Office of Georgia (Geostat) — downloaded files
• GDP_DEFLATOR_A GDP deflator, annual National Statistics Office of Georgia (Geostat)
• GDP_REAL_GROWTH_A Real GDP growth, annual National Statistics Office of Georgia (Geostat)