Hungary’s current account deficit declined to EUR 0.23 billion in the third quarter of 2019 from EUR 0.59 billion a year earlier. The goods account deficit narrowed to EUR 1.12 billion from EUR 1.32 billion in Q3 2018, and the primary income gap decreased slightly to EUR 1.30 billion from EUR 1.34 billion. In addition, the services surplus rose to EUR 2.49 billion from EUR 2.21 billion in the same period 2018. Meanwhile, the secondary income deficit widened to EUR 0.30 billion from EUR 0.13 billion a year earlier. Current Account in Hungary averaged -474.72 EUR Million from 1990 until 2019, reaching an all time high of 1751.60 EUR Million in the third quarter of 2016 and a record low of -2472.40 EUR Million in the second quarter of 2004.
Current Account in Hungary is expected to be -290.00 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 Hungary to stand at 440.00 in 12 months time. In the long-term, the Hungary Current Account is projected to trend around -200.00 EUR Million in 2020, according to our econometric models.