The current account deficit in Armenia rose to USD 277.3 million in the first quarter of 2019 from USD 227.2 million in the same period of the previous year. The goods and services gap widened to USD 366.6 million from USD 329.7 million in Q1 2018 and the secondary income surplus shrank to USD 140.3 million from USD 155.8 million while the primary income deficit narrowed slightly to USD 51 million from 53.3 million. Current Account in Armenia averaged -133.55 USD Million from 1993 until 2019, reaching an all time high of 74.31 USD Million in the fourth quarter of 2004 and a record low of -511.22 USD Million in the fourth quarter of 2008.
Current Account in Armenia is expected to be -295.00 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 Armenia to stand at -250.00 in 12 months time. In the long-term, the Armenia Current Account is projected to trend around -250.00 USD Million in 2020, according to our econometric models.