Romania’s current account gap rose to EUR 1,464 million in July of 2019 from EUR 1,142 million in the same month a year earlier. It is the highest current account deficit since September of 2008, as the goods shortfall widened to EUR 1,772 million from EUR 1,294 million in July of 2018 and the secondary income surplus fell to EUR 136 million from EUR 158 million. At the same time, the services surplus edged up to EUR 728 million from ERU 725 million and the primary income gap narrowed to ERU 557 million from EUR 733 million. Current Account in Romania averaged -462.20 EUR Million from 1997 until 2019, reaching an all time high of 831 EUR Million in March of 2015 and a record low of -2344 EUR Million in May of 2008.
Current Account in Romania is expected to be -820.00 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 Romania to stand at -980.00 in 12 months time. In the long-term, the Romania Current Account is projected to trend around -420.00 EUR Million in 2020, according to our econometric models.