Bulgaria's current account surplus rose sharply to EUR 880.3 million in June of 2019 from EUR 341.9 million in the same month of the previous year. This is the highest current account surplus since August last year. The goods balance shifted to a EUR 29.6 million surplus compared to a EUR 202.2 million deficit; and the services surplus rose to EUR 499.7 million from EUR 486.4 million a year ago. In addition, the primary income gap decreased to EUR 13.8 million from EUR 67.6 million and the secondary income surplus widened to EUR 364.9 million from EUR 125.3 million in June 2018. In the first six months of the year, the country's current account surplus went up to EUR 1,758.6 million from EUR 266.3 million in the same period of 2018 Current Account in Bulgaria averaged -93.01 EUR Million from 1998 until 2019, reaching an all time high of 1029.50 EUR Million in July of 2017 and a record low of -1166.80 EUR Million in December of 2007.
Current Account in Bulgaria is expected to be 450.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Bulgaria to stand at 390.00 in 12 months time. In the long-term, the Bulgaria Current Account is projected to trend around -130.00 EUR Million in 2020, according to our econometric models.