The current account gap in Georgia increased to USD 382 million in the second quarter of 2018 from USD 342.7 million in the corresponding period of the previous year. The goods and services deficit widened to USD 462 million from USD 382.9 million in the three months to June of 2017 and the primary income shortfall rose to USD 257.8 million from USD 249.4 million. On the other hand, the secondary income surplus advanced to USD 337.7 million from USD 289.6 million a year ago. Current Account in Georgia averaged -328.92 USD Million from 2000 until 2018, reaching an all time high of -37.90 USD Million in the third quarter of 2001 and a record low of -925.90 USD Million in the second quarter of 2008.
Current Account in Georgia is expected to be -382.20 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Georgia to stand at -395.30 in 12 months time. In the long-term, the Georgia Current Account is projected to trend around -559.50 USD Million in 2020, according to our econometric models.