Czech Republic recorded a current account deficit of EUR 1738 million in the third quarter of 2018 compared to a EUR 1330 million gap in the same period of the previous year. It is the widest current account gap since the third quarter of 2015, as the goods surplus decreased to EUR 1274.5 million from EUR 1642.3 million and the services surplus also declined to EUR 899.4 million from EUR 1211.3 million, amid lower receipts from transport and financial services. Meanwhile the primary income deficit shrank to EUR 3503.7 million from EUR 3630.1 million and the secondary income gap also narrowed to EUR 407.9 million from EUR 553.6 million in the same period of 2017. Current Account in Czech Republic averaged -520.50 EUR Million from 1993 until 2018, reaching an all time high of 4418.67 EUR Million in the first quarter of 2016 and a record low of -4336.37 EUR Million in the third quarter of 2010.
Current Account in Czech Republic is expected to be -420.00 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 Czech Republic to stand at -817.01 in 12 months time. In the long-term, the Czech Republic Current Account is projected to trend around -370.00 EUR Million in 2020, according to our econometric models.