The Greek current account surplus increased to EUR 300.6 million in May of 2019 from EUR 37.5 million in the same month a year earlier. The primary income account recorded a EUR 49.6 million surplus compared to a EUR 145.6 million deficit a year ago while the secondary income surplus widened sharply to EUR 736.6 million from EUR 0.3 million. On the other hand, the goods and service account shifted to a EUR 485.7 million deficit from a EUR 182.7 million surplus a year earlier. Considering the January-May period, the current account gap rose to EUR 4,817 million from EUR 4,693 million in the same period of 2018. Current Account in Greece averaged -1103.63 EUR Million from 1997 until 2019, reaching an all time high of 2601.40 EUR Million in July of 2013 and a record low of -4730.30 EUR Million in December of 2007.
Current Account in Greece is expected to be 1600.00 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 Greece to stand at 1250.00 in 12 months time. In the long-term, the Greece Current Account is projected to trend around -650.00 EUR Million in 2020, according to our econometric models.