Italy posted a current account surplus of EUR 3 million in January of 2019, switching from a EUR 936 million deficit in the corresponding month of the previous year. The goods surplus widened sharply to EUR 1,277 million from EUR 500 million in January of 2017 and the primary income surplus rose to EUR 701 million from EUR 492 million. Also, the secondary income deficit narrowed to EUR 1,079 million from EUR 1,204 million a year earlier while the services gap went up to EUR 896 million from EUR 724 million. Current Account in Italy averaged -6.42 EUR Million from 1942 until 2019, reaching an all time high of 19332.70 EUR Million in July of 1981 and a record low of -10633.40 EUR Million in August of 1981.
Current Account in Italy is expected to be 2720.00 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 Italy to stand at 2750.00 in 12 months time. In the long-term, the Italy Current Account is projected to trend around 1910.00 EUR Million in 2020, according to our econometric models.