Romania's current account deficit widened to EUR 638 million in February 2019 from EUR 424 million in the same month of the previous year, as the goods gap increased sharply to EUR 1,112 million from EUR 855 million while the services surplus declined to EUR 613 million from EUR 624 million. Meanwhile, the primary income deficit shrank to EUR 151 million from EUR 186 million and the secondary income account posted a EUR 12 million surplus, compared to EUR 7 million deficit last year. Considering the first two months of the year, the current account deficit widened to EUR 568 million from EUR 425 million in the same period of 2018. Current Account in Romania averaged -450.38 EUR Million from 1997 until 2019, reaching an all time high of 831 EUR Million in March of 2015 and a record low of -2344 EUR Million in May of 2008.
Current Account in Romania is expected to be -1160.00 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 Romania to stand at -620.00 in 12 months time. In the long-term, the Romania Current Account is projected to trend around -420.00 EUR Million in 2020, according to our econometric models.