The current account surplus in the Euro Area narrowed to EUR 24.1 billion in September 2018 from EUR 47.5 billion in the same month of the previous year. The goods surplus declined sharply to EUR 16.5 billion from EUR 33.4 billion and the services surplus fell to EUR 12.8 billion from EUR 13.4 billion. Additionally, the primary income surplus decreased to EUR 6.5 billion from EUR 12.1 billion a year earlier and the secondary deficit widened to EUR 11.7 billion from EUR 11.4 billion. Current Account in the Euro Area averaged 7.17 EUR Billion from 1999 until 2018, reaching an all time high of 55.21 EUR Billion in December of 2015 and a record low of -28.62 EUR Billion in January of 2008.
Current Account in Euro Area is expected to be 44.10 EUR Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Euro Area to stand at 36.20 in 12 months time. In the long-term, the Euro Area Current Account is projected to trend around 34.40 EUR Billion in 2020, according to our econometric models.