The current account surplus in the Euro Area narrowed to EUR 26.6 billion in October 2018 from EUR 37.4 billion in the same month of the previous year. The goods surplus declined sharply to EUR 19.5 billion from EUR 28.8 billion a year ago and the secondary deficit widened to EUR 13.7 billion from EUR 10.8 billion. On the other hand, the services surplus increased to EUR 10.4 billion from EUR 9.1 billion a year earlier and the primary income surplus edged up to EUR 10.4 billion from EUR 10.3 billion. Current Account in the Euro Area averaged 7.26 EUR Billion from 1999 until 2018, reaching an all time high of 55.21 EUR Billion in December of 2015 and a record low of -28.62 EUR Billion in January of 2008.
Current Account in Euro Area is expected to be 44.10 EUR Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Euro Area to stand at 36.20 in 12 months time. In the long-term, the Euro Area Current Account is projected to trend around 34.40 EUR Billion in 2020, according to our econometric models.