Argentina’s current account deficit narrowed sharply to USD 3.85 billion in the first quarter of 2019 from USD 9.37 billion in the same period a year earlier. The goods account switched to a USD 2.56 billion surplus from a USD 1.65 billion gap a year earlier and the services shortfall declined to USD 1.71 billion from USD 3.40 billion. Also, the secondary income surplus widened to USD 0.28 billion from USD 0.17 billion in the first quarter of 2019. In contrast, the primary income deficit rose to USD 4.99 billion from USD 4.49 billion. Current Account in Argentina averaged -1072.14 USD Million from 1976 until 2019, reaching an all time high of 4297.83 USD Million in the second quarter of 2009 and a record low of -9368.69 USD Million in the first quarter of 2018.
Current Account in Argentina is expected to be -8776.73 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 Argentina to stand at -9200.00 in 12 months time. In the long-term, the Argentina Current Account is projected to trend around -8000.00 USD Million in 2020, according to our econometric models.