Luxembourg posted a current account surplus of EUR 1.38 billion in the second quarter of 2019, compared to a EUR 1.17 billion deficit in the same period of the previous year. The services surplus widened to EUR 6.20 billion from EUR 5.98 billion last year, while the goods deficit narrowed to EUR 0.28 billion from EUR 0.82 billion and the primary income gap fell sharply to EUR 4.55 billion from EUR 6.39 billion. Considering the first half of the year, the current account surplus was EUR 1.43 billion, unchanged from the same period of 2018. Current Account in Luxembourg averaged 631.88 EUR Million from 1995 until 2019, reaching an all time high of 2717.60 EUR Million in the fourth quarter of 2017 and a record low of -2221.30 EUR Million in the second quarter of 2017.
Current Account in Luxembourg is expected to be -400.00 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 Luxembourg to stand at 620.00 in 12 months time. In the long-term, the Luxembourg Current Account is projected to trend around 1150.00 EUR Million in 2020, according to our econometric models.