Chile's current account deficit widened to USD 1.02 billion in the first quarter of 2019 from USD 0.34 billion in the corresponding period of the previous year. The goods surplus narrowed to USD 2.18 billion from USD 2.95 billion in Q1 2018 and the services shortfall increased to USD 0.99 billion from USD 0.78 billion. Also, the secondary income surplus declined to USD 0.40 billion from USD 0.43 billion. On the other hand, the primary income gap decreased to USD 2.61 billion from USD 2.94 billion a year earlier. Current Account in Chile averaged -543.33 USD Million from 1996 until 2019, reaching an all time high of 3256.31 USD Million in the first quarter of 2007 and a record low of -5054.90 USD Million in the third quarter of 2012.
Current Account in Chile is expected to be -1100.00 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 Chile to stand at -500.00 in 12 months time. In the long-term, the Chile Current Account is projected to trend around -1200.00 USD Million in 2020, according to our econometric models.