Georgia Crude Oil Production - Forecast

Crude Oil Production in Georgia is expected to be 0.40 BBL/D/1K by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Crude Oil Production in Georgia to stand at 0.40 in 12 months time. In the long-term, the Georgia Crude Oil Production is projected to trend around 0.40 BBL/D/1K in 2020, according to our econometric models.


Georgia Crude Oil Production
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Georgia Trade Last Q2/18 Q3/18 Q4/18 Q1/19 2020
Balance of Trade -479 -468 -479 -490 -490 -488
Exports 323 286 278 280 281 281
Imports 803 753 757 771 771 769
Current Account -582 -496 -322 -352 -352 -512
Current Account to GDP -13.3 -11 -11 -11 -10 -9
Terrorism Index 2.11 2.51 2.75 2.99 3.09 3.75
Remittances 354973 373896 386600 281000 375928 295000
Foreign Direct Investment 497 425 409 384 372 322
Capital Flows 542 281 281 281 281 281
Crude Oil Production 0.4 0.4 0.4 0.4 0.4 0.4
External Debt 17203 17689 17940 18261 18546 21610