Greek Current Account Surplus up Significantly in Jan-Oct

Greek Current Account Surplus up Significantly in Jan-Oct

Greece's current account deficit rose slightly to 199 million euros in October, from 118 million in the same month last year, reflecting the improvement, on the one hand, in the services balance, owing mainly to a rise in net transport and “other” services receipts, and, on the other hand, in the current transfers balance, due to an increase in net transfers from the EU, despite the deterioration in the trade balance, the Bank of Greece said on Monday.
The central bank, in a report, said that the country's trade deficit grew by 209 million year-on-year, owing to the higher net import bill for oil and other goods excluding ships. By contrast, net payments for purchases of ships decreased considerably.
The trade deficit excluding ships grew, despite a 12.0 pct rise in oil export receipts and a 9.4 pct rise in ‘’other’’ goods export receipts.The surplus of the services balance widened by 199 million euros year-on-year, primarily on account of improvements in the transport and in the “other” services balances. Travel receipts increased by 4.6 pct, reflecting an 18.9 pct rise in non-residents’ arrivals, which was largely offset by a rise in travel spending by residents abroad.

Previous Next
Close
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.