Sri Lanka's current account deficit narrowed to USD 673 million in the second quarter of 2019 from USD 1,022 million in the same period last year, as the goods gap shrank to USD 1,936 million from USD 2,727 million. Meanwhile, the secondary income surplus was unchanged at USD 1,431 million, while the services surplus fell to USD 430 million from USD 719 million a year ago and the primary income deficit increased to USD 597 million from USD 445 million. In the first half of the year, the current account gap narrowed to USD 225 million from USD 1,609 million in the same period of 2018. Current Account in Sri Lanka averaged -432.71 USD Million from 2001 until 2019, reaching an all time high of 447.31 USD Million in the first quarter of 2019 and a record low of -1695.29 USD Million in the fourth quarter of 2011.
Current Account in Sri Lanka is expected to be -370.00 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 Sri Lanka to stand at -900.00 in 12 months time. In the long-term, the Sri Lanka Current Account is projected to trend around -810.00 USD Million in 2020, according to our econometric models.