Portugal’s current account deficit narrowed to EUR 964.9 million in May of 2021 from EUR 1,844.0 million in the corresponding month of the previous year. The goods account gap widened to EUR 1,189.7 million from EUR 851.5 million a year ago; while the primary income shortfall narrowed sharply to EUR 923.6 million from EUR 1,573.0 million. On the other hand, the services surplus expanded to EUR 537.7 million from EUR 297.5 million in May 2020, mostly due to a rise in tourism revenues to EUR 531.1 million from EUR 232.1 million; and the secondary income also widened to EUR 600.7 million from EUR 283.0 million. In the first five months of 2021, the country's current account gap shrank to EUR 2,023.9 million from EUR 2,949.1 million a year ago. source: Banco de Portugal
Current Account in Portugal averaged -674.43 EUR Million from 1996 until 2021, reaching an all time high of 1655.06 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. Portugal Current Account - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
Current Account in Portugal is expected to be 320.00 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 360.00 in 12 months time. In the long-term, the Portugal Current Account is projected to trend around -230.00 EUR Million in 2022 and -320.00 EUR Million in 2023, according to our econometric models.