Greece posted a EUR 874 million surplus in June 2019, compared to a EUR 9 million deficit in the same month last year, as the services surplus increased to EUR 2,879 million from EUR 2,541, with tourism revenues rising to EUR 2,620 million from EUR 2,252 million. In addition, the goods deficit narrowed to EUR 1,578 million from EUR 2,073 million a year ago, while the primary income gap decreased to EUR 373 million from EUR 454 million. The secondary income deficit however widened to EUR 55 million from EUR 23 million a year earlier. Current Account in Greece averaged -1096.30 EUR Million from 1997 until 2019, reaching an all time high of 2601.40 EUR Million in July of 2013 and a record low of -4730.30 EUR Million in December of 2007.
Current Account in Greece is expected to be 1600.00 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 Greece to stand at 1250.00 in 12 months time. In the long-term, the Greece Current Account is projected to trend around -650.00 EUR Million in 2020, according to our econometric models.