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Economic Outlook

The 2023 Georgia Farm Gate Value is $17,608,944,181.

The 2025 Georgia Ag Impact Report data is based on the 2023 Georgia Farm Gate Value Report, an annual county-level economic valuation for all food and fiber production in the state.

In 2023, food and fiber production and related industries represented $91.4 billion in output to Georgia’s $1.4 trillion economy and more than 381,200 jobs statewide.

Key takeaways: U.S. and Georgia

• 2025 economic forecast for Georgia calls for an economic slowdown, but not a recession. We estimate the probability of recession at 25%.
• Georgia’s economy will grow faster than the nation’s economy because of recent economic development success, stronger demographics, and favorable economic structure.
• The unemployment rate is expected to rise, but not too much. The rise in the unemployment rate will mostly reflect less hiring rather than more layoffs.
• Inflation fell to 3% in 2024, but it will not fall further in 2025.
• In terms of economic severity, the main downside risks to growth are a mistake by the Federal Reserve, a financial crisis, an energy price shock, a federal policy mistake, and a stock market correction.

Key takeaways: Georgia agriculture

• Food price growth in 2025 is projected to align with inflation at around 2.5%.
• Prices for food consumed away from home are expected to remain higher than those for food consumed at home.
• Commodity prices are forecast to trend downward in the near term, with stability anticipated in the medium term.
• According to the most recent USDA farm income forecast, declining crop prices are expected to outweigh revenue gains from animal products, combined with slightly reduced input costs, leading to lower national net farm income in 2024.
• USDA projections indicate a decline in net farm income of 4.1% in nominal terms and 6.3% in inflation-adjusted terms nationally in 2024. However, these projections will not apply to Georgia because of the significant damages caused by Hurricane Helene, which resulted in lost output and infrastructure.
• Looking forward to 2025 and beyond, numerous geopolitical risks combined with various proposed policies—including tariffs and retaliation, immigration controls, tax policies, energy strategies, and inflation-targeted monetary policies—contribute to ongoing uncertainties surrounding U.S. and Georgia agricultural economic outcomes.

For more insights and key takeaways, please visit the 2025 Georgia Ag Forecast annual publication.

The Georgia Ag Forecast is an annual seminar hosted by CAES sharing the latest research and information from CAES faculty to help Georgia farmers and agribusinesses prepare for their year ahead.