Greece's C/A Gap Down in Jan-April‏

Greece's C/A Gap Down in Jan-April‏

Greece’s current account deficit shrank to 2.2 billion euro in the January-April period, down 1.2 billion euro compared with the same period last year, the Athens News Agency-Macedonian Press Agency reported, quoting central bank figures.

The country's trade deficit rose by 220 million euro in the four-month period as higher net payments for purchases of ships offset a decline in the net oil import bill and a contraction in the deficit of the balance for goods excluding oil and ships, the news agency said.

In April alone, the current account balance showed a deficit of 1.2 billion euro, slightly higher on annual basis, as a rise in the surplus of the services balance and a small contraction in the income account deficit only partly offset increases in the trade deficit and the deficit of the current transfers balance.

In April, the combined current account and capital transfers balance showed a deficit of 1.2 billion euro, compared with 1.1 billion euro in the same month a year earlier. Non-residents’ direct investment in Greece showed a net outflow of 60 million euro. Residents’ direct investment abroad recorded a net outflow of 25 million euro.

In the four months through April, non-residents’ direct investment in Greece showed a net inflow of 229 million, while residents’ direct investment abroad showed a net outflow of 220 million euro.

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