Armenia posted a current account deficit USD 220 million in the second quarter of 2018, swinging from a USD 50.1 million surplus in the same period of the previous year. The goods deficit jumped to USD 413.9 million from a USD 256.8 million, the services surplus narrowed sharply to USD 0.1 million from USD 9.1 million a year earlier, the secondary income surplus declined to USD 146.4 million from USD 200.2 million in Q2 last year, and the primary income surplus dropped to USD 47.4 million from USD 97.6 million in the same period 2017. Current Account in Armenia averaged -128.71 USD Million from 1993 until 2018, reaching an all time high of 74.31 USD Million in the fourth quarter of 2004 and a record low of -511.22 USD Million in the fourth quarter of 2008.
Current Account in Armenia is expected to be -250.10 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 Armenia to stand at -98.70 in 12 months time. In the long-term, the Armenia Current Account is projected to trend around -290.50 USD Million in 2020, according to our econometric models.