Portugal's current account deficit narrowed to EUR 116.2 million in November 2019 from EUR 882.1 million in the same month last year, as the goods gap declined to EUR 1171.5 million from EUR 1757.4 million, and the primary income deficit fell to EUR 193.9 million from EUR 289.5 million. In addition, the secondary income surplus increased to EUR 416.2 million from EUR 325.4 million, boosted by workers' remittances (EUR 288.3 million from EUR 283.5 million). Meanwhile, the services surplus dropped to EUR 832.9 million from EUR 839.4 million, despite rising tourism revenues (EUR 984.4 million from EUR 896.4 million). Considering January to November, the current account posted a EUR 0.4 billion deficit, compared to EUR 1.5 billion surplus in the same period of 2018.
Current Account in Portugal averaged -707.86 EUR Million from 1996 until 2019, reaching an all time high of 1625.26 EUR Million in August of 2017 and a record low of -2674.13 EUR Million in June of 2010. This page provides the latest reported value for - Portugal Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Current Account in Portugal is expected to be -180.00 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 Portugal to stand at -90.00 in 12 months time. In the long-term, the Portugal Current Account is projected to trend around -120.00 EUR Million in 2020, according to our econometric models.