Irish current account surplus narrowed sharply to EUR 0,178 million in the fourth quarter of 2018 from EUR 9,411 a year earlier. It was the smallest current account surplus since the third quarter of 2002, as the merchandise surplus declined to EUR 27,262 million from EUR 30,147 million and the services gap rose to EUR 7,632 million from EUR 4,034 million. Additionally, the primary income shortfall widened to EUR 18,279 million from EUR 15,613 million and the secondary income deficit increased to EUR 1,173 million from EUR 1,089 million. Considering full 2018, the current account surplus went up to EUR 28,996 million from EUR 24,924 million in 2017. Current Account in Ireland averaged -9.70 EUR Million from 1981 until 2018, reaching an all time high of 13760 EUR Million in the third quarter of 2017 and a record low of -6299 EUR Million in the fourth quarter of 2016.
Current Account in Ireland is expected to be 5400.00 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 Ireland to stand at 4440.00 in 12 months time. In the long-term, the Ireland Current Account is projected to trend around 2960.00 EUR Million in 2020, according to our econometric models.