Portugal's current account deficit widened sharply to EUR 667 million in February 2019 from EUR 182 million in the same month last year, as the goods gap increased to EUR 1,297 million from EUR 836 million while the secondary income account posted a EUR 101 million deficit, compared to EUR 30 surplus in February 2018. In addition, The services surplus fell to EUR 841 million from EUR 851 million a year ago, while the primary income gap fell to EUR 111 million from EUR 227 million. Considering January-February, the current account deficit widened to EUR 1.41 trillion from EUR 0.71 trillion in the same period of 2018. Current Account in Portugal averaged -765.59 EUR Million from 1996 until 2019, reaching an all time high of 1105.17 EUR Million in July of 2016 and a record low of -2590.60 EUR Million in June of 2010.
Current Account in Portugal is expected to be 51.00 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 -100.00 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.