Portugal posted a current account deficit of EUR 462.4 million in December of 2020 compared with a surplus of EUR 24.1 million in the same month of the previous year. It was the largest current account gap since last May, as the primary income deficit rose to EUR 257.8 million from EUR 132.2 million in December of 2019 and the services surplus fell to EUR 557.8 million from EUR 1260.2 million, amid a sharp decline in tourism revenues (EUR 519.6 million from EUR 1060.7 million). At the same time, the trade deficit narrowed to EUR 1230.9 million from EUR 1305.1 million and the secondary income surplus fell to EUR 468.4 million from EUR 593 million, partly attributed to the evolution of the current transfers, namely due to an increase of EU budget contributions, as well as a decrease in workers' remittances. In 2020, the country's current account shifted to a deficit of EUR 2377 million compared to a surplus of EUR 821 million a year earlier. source: Banco de Portugal
Current Account in Portugal averaged -678.92 EUR Million from 1996 until 2020, reaching an all time high of 1655.06 EUR Million in August of 2017 and a record low of -2674.13 EUR Million in June of 2010. This page provides the latest reported value for - Portugal Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Portugal Current Account - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
Current Account in Portugal is expected to be -200.00 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 Portugal to stand at -220.00 in 12 months time. In the long-term, the Portugal Current Account is projected to trend around -100.00 EUR Million in 2022, according to our econometric models.