The current account deficit in Serbia widened to USD 531 million in March 2019 from USD 462 million in the same month of the previous year. It was the largest current account gap since December 2013, as the services surplus narrowed to USD 70 million from USD 93 million in March 2018. Also, the primary income shortfall rose to USD 338 million from USD 318 million and the secondary income surplus fell to USD 269 million from USD 334 million. On the other hand, the goods deficit declined to USD 532 million from USD 570 million a year earlier. Considering the first quarter of the year, the country recorded a USD 1064 million trade gap, compared to a USD 904 million shortfall in the same period of 2018. Current Account in Serbia averaged -259.60 USD Million from 2001 until 2019, reaching an all time high of 178 USD Million in November of 2010 and a record low of -1073.40 USD Million in June of 2008.
Current Account in Serbia is expected to be -150.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Serbia to stand at -250.00 in 12 months time. In the long-term, the Serbia Current Account is projected to trend around -280.00 USD Million in 2020, according to our econometric models.