The current account deficit in Armenia rose to USD 278.8 million in the second quarter of 2019 from USD 274 million in the same period of the previous year, as the services deficit widened to USD 15.6 million from USD 5.4 million while the goods shortfall fell slightly to USD 397.8 million from USD 449.2 million. Meantime, the primary income surplus decreased to USD 11.3 million from USD 31.5 million in Q1 2018 and the secondary surplus also shrank to USD 123.3 million from USD 149 million. Current Account in Armenia averaged -135.82 USD Million from 1993 until 2019, 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 -260.00 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 Armenia to stand at -225.00 in 12 months time. In the long-term, the Armenia Current Account is projected to trend around -250.00 USD Million in 2020, according to our econometric models.