Italy’s current account surplus narrowed to EUR 4211 million in December of 2018 from EUR 5381 million a year earlier. The goods surplus fell to EUR 4837 million from EUR 5790 million; the services gap widened to EUR 1004 million from EUR 980 million; and the secondary income deficit increased to EUR 1463 million from EUR 1264 million. On the other hand, the primary income surplus increased slightly to EUR 1841 million from EUR 1835 million. Considering full 2018, the country's current account surplus decreased to EUR 45272 million (or 2.6 percent of the GDP) from EUR 48042 million (or 2.8 percent of the GDP) in 2017, mainly due to a reduction in the goods surplus (EUR 48522 million from EUR 55772 million). Current Account in Italy averaged -6.68 EUR Million from 1942 until 2018, reaching an all time high of 19332.70 EUR Million in July of 1981 and a record low of -10633.40 EUR Million in August of 1981.
Current Account in Italy is expected to be 2720.00 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 Italy to stand at 2750.00 in 12 months time. In the long-term, the Italy Current Account is projected to trend around 1910.00 EUR Million in 2020, according to our econometric models.