Portugal's current account surplus increased to EUR 166.5 million in September 2018 from EUR 156.3 million in the same month of the previous year. The services surplus rose to EUR 1,845.8 million from EUR 1,634.1 million, with tourism revenues growing to EUR 1,001 million from EUR 942.5 million in September 2017; and the secondary income surplus also went up to EUR 227.5 million from EUR 186.7 million, as workers remittances advanced to EUR 280.6 million from EUR 246.1 million. In addition, the goods deficit narrowed to EUR 1,047.5 million from EUR 1,082.4 million. On the other hand, the primary income gap went up to EUR 859.3 million from EUR 582 million a year earlier. Current Account in Portugal averaged -773.42 EUR Million from 1996 until 2018, reaching an all time high of 1105.17 EUR Million in July of 2016 and a record low of -2590.60 EUR Million in June of 2010.
Current Account in Portugal is expected to be -160.00 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 551.00 in 12 months time. In the long-term, the Portugal Current Account is projected to trend around -90.00 EUR Million in 2020, according to our econometric models.