BIC Bulletin W21/2026

📁 Capital markets & sovereign financing

🔹 First-ever T-bond syndication worth GEL 400m

Georgia's Ministry of Finance has, for the first time, placed government bonds (T-bonds) worth GEL 400 million via a syndication procedure. Introducing this issuance method marks a significant step towards diversifying financing instruments on Georgia's capital market. The syndication procedure enables a broader investor base and can, over the long term, improve secondary-market liquidity for Georgian government bonds.

📁 Transport & logistics

🔹 Georgian ports post 19.7% freight increase in Q1

Georgia's ports and terminals handled 4.3 million tonnes of freight in the first quarter – an increase of 19.7% year-on-year. At the same time, air traffic recorded a 57.7% rise in passengers to 190,700, while air freight volume fell 18.1%. Georgian Railway transported 3 million tonnes of freight, nearly matching the prior-year level (−0.03%), but saw passenger traffic decline 13.5% to 301,800 travellers. The data point to a shift of transport flows towards maritime logistics and air travel.

📁 Labour market

🔹 Unemployment rate falls 0.3 percentage points

In the first quarter, Georgia's unemployment rate fell 0.3 percentage points compared with the same period last year. In urban areas the rate dropped 0.3 percentage points to 15.5%, and in rural regions 0.2 percentage points to 12.8%. At the same time, the employment rate fell 1 percentage point year-on-year – an indicator that the decline in unemployment may be partly due to falling labour-force participation and not solely attributable to new jobs.

📁 Insurance industry

🔹 High market concentration in the insurance sector

Georgia's insurance market shows pronounced market concentration: in 2025, three companies accounted for 65.3% of total premium income (GEL 296m) in motor insurance. In property insurance, the top three providers controlled 76% of premium volume (GEL 158m), and in life insurance as much as 85.4% (GEL 129m). According to the State Insurance Supervision Service, the composition of the leading providers in motor and property insurance was unchanged from 2024, while there were shifts in life insurance.

📁 Energy & infrastructure

🔹 Construction of the Urbnisi substation by 2027

Georgian State Electrosystem has signed a memorandum of understanding with six private energy companies on the joint construction of the Urbnisi substation. Completion is planned for December 2027. The public-private partnership model underscores the growing importance of private investment in Georgia's energy infrastructure to safeguard grid stability and meet rising electricity demand.

📩 Batumi Investment Club

Georgia's largest German-speaking investment club