Russia’s current account surplus shrank to USD 12.1 billion in the second quarter of 2019 from USD 17.9 billion in the corresponding period of 2018, a preliminary estimate showed. The goods surplus decreased to USD 39.7 billion from USD 45.4 billion a year earlier and the services gap went down to USD 7.6 billion from USD 7.7 billion. In addition, the investment income deficit rose to USD 18.1 billion from USD 17.8 billion while the secondary income gap narrowed to USD 1.5 billion from USD 1.6 billion. Considering the first half of 2019, the current account surplus declined slightly to USD 45.8 billion from USD 47.7 billion in the same period a year ago. Current Account in Russia averaged 12345.70 USD Million from 1994 until 2019, reaching an all time high of 39286 USD Million in the first quarter of 2012 and a record low of -3774 USD Million in the second quarter of 1998.
Current Account in Russia is expected to be 32700.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Russia to stand at 30500.00 in 12 months time. In the long-term, the Russia Current Account is projected to trend around 38000.00 USD Million in 2020, according to our econometric models.