Swedish current account surplus widened sharply to SEK 37.0 billion in the second quarter of 2019 from SEK 0.8 billion in the same period of the previous year. The goods surplus rose to SEK 44.0 billion from SEK 16.1 billion a year earlier and the services surplus increased to SEK 5.2 billion from SEK 4.9 billion. Additionally, the primary income deficit narrowed to SEK 3.8 billion from SEK 10.4 billion a year ago, mainly due to income on investment and the secondary income shortfall fell to SEK 8.5 billion from SEEK 9.8 billion. Current Account in Sweden averaged 24.49 SEK Billion from 1982 until 2019, reaching an all time high of 82.30 SEK Billion in the first quarter of 2008 and a record low of -15.90 SEK Billion in the third quarter of 1990.
Current Account in Sweden is expected to be 40.20 SEK Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Sweden to stand at 15.00 in 12 months time. In the long-term, the Sweden Current Account is projected to trend around 28.00 SEK Billion in 2020, according to our econometric models.