Greece's current account deficit widened to EUR 1.50 billion in March 2019 from EUR 1.15 billion in the same month last year. The goods deficit increased as exports fell and imports rose, while the primary income surplus shrank, mainly due to a drop in net receipts from other primary income. In addition, the secondary income account worsened as a result of a widening of the deficit of the general government account, while the services surplus was larger amid an improvement in primarily the transport balance and, secondarily, the other services balance. Current Account in Greece averaged -1107.62 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 1000.00 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 -1100.00 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.