The current account surplus in the Euro Area narrowed to EUR 9.3 billion in January 2019 from EUR 9.7 billion in the same month a year earlier. It was the smallest current account surplus since January 2016, as the goods surplus narrowed to EUR 6.7 billion from EUR 11.1 billion a year ago and the secondary income deficit increased to EUR 13.5 billion from EUR 12.1 billion. On the other hand, the services surplus declined to EUR 4.8 billion from EUR 6.8 billion a year earlier and the primary income surplus widened to EUR 11.2 billion from EUR 3.8 billion.on in January of 2019. Current Account in the Euro Area averaged 7.38 EUR Billion from 1999 until 2019, reaching an all time high of 53.09 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 32.20 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 29.50 in 12 months time. In the long-term, the Euro Area Current Account is projected to trend around 28.90 EUR Billion in 2020, according to our econometric models.