Bulgaria posted a current account surplus of EUR 155.5 million in March of 2019, switching from a EUR 51.3 million deficit in the same month of the previous year. The goods and services account recorded a EUR 49.1 million surplus, compared with a EUR 81.6 million gap a year earlier, as the goods shortfall narrowed sharply to EUR 41.3 million from EUR 187.4 million and the services surplus decreased to EUR 90.4 million from EUR 105.8 million. Also, the primary income account swung to a EUR 22.8 million surplus from a EUR 52.4 million deficit in March of 2018 while the secondary income surplus rose slightly to EUR 83.6 million from EUR 82.7 million. Considering the first quarter of 2019, the current account surplus widened sharply to EUR 654.3 million from EUR 5.7 million in the same period of the prior year. Current Account in Bulgaria averaged -92.13 EUR Million from 1998 until 2019, reaching an all time high of 1200.20 EUR Million in July of 2017 and a record low of -1166.80 EUR Million in December of 2007.
Current Account in Bulgaria is expected to be 300.00 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 Bulgaria to stand at -190.00 in 12 months time. In the long-term, the Bulgaria Current Account is projected to trend around -100.00 EUR Million in 2020, according to our econometric models.