Portugal posted a current account surplus of EUR 9 million in April 2019, compared to a EUR 315 million deficit in the same month of the previous year, as the services surplus widened to EUR 1,228 million from EUR 1,198 million, boosted by a 11.8 percent increase in tourism revenues. In addition, the secondary income surplus rose to EUR 372 million from EUR 166 million a year ago, while the primary income gap shrank to EUR 153 million from EUR 620 million. Meanwhile, the goods deficit grew sharply to EUR 1,439 million from EUR 1,058 a year earlier. Considering the first four months of the year, the current account deficit widened sharply to EUR 1,582 million from EUR 722 million in the same period a of 2018. Current Account in Portugal averaged -760.74 EUR Million from 1996 until 2019, 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 51.00 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 -100.00 in 12 months time. In the long-term, the Portugal Current Account is projected to trend around -120.00 EUR Million in 2020, according to our econometric models.