The current account gap in Greece narrowed to EUR 1.1 billion in March of 2020 from EUR 1.5 billion a year earlier. The goods deficit decreased to EUR 1.8 billion from EUR 2.1 billion, due to a 12% fall in non-oil imports as a result of the coronavirus lockdown. The oil balance did not change considerably. The primary income surplus widened to EUR 0.18 billion from EUR 0.09 billion and the secondary income account switched to a EUR 0.16 billion surplus from a EUR 0.06 billion deficit. On the other hand, the services surplus narrowed to EUR 0.35 billion from EUR 0.56 billion due to a 16.7% drop in net sea transport receipts as non-residents’ arrivals fell by 46.8%.

Current Account in Greece averaged -1035.71 EUR Million from 1997 until 2020, reaching an all time high of 2656.79 EUR Million in July of 2013 and a record low of -4730.32 EUR Million in December of 2007. This page provides the latest reported value for - Greece Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Greece Current Account - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020.

Current Account in Greece is expected to be 1250.00 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 Greece to stand at -780.00 in 12 months time. In the long-term, the Greece Current Account is projected to trend around -650.00 EUR Million in 2021, according to our econometric models.

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Greece Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-1106.00 -1138.00 2656.79 -4730.32 1997 - 2020 EUR Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-02-20 09:00 AM Dec €-0.54B €-1.392B €-0.9B
2020-03-20 09:00 AM Jan €-1.291B €-0.54B
2020-04-21 08:00 AM Feb €-1.138B €-1.291B €-1.0B
2020-05-21 08:00 AM Mar €-1.106B €-1.138B € -1.1B
2020-06-19 08:15 AM Apr €-1.106B
2020-07-20 08:15 AM May
2020-08-20 08:00 AM Jun € 1.3B
2020-09-21 08:00 AM Jul


News Stream
Greece Current Account Deficit Narrows in March
The current account gap in Greece narrowed to EUR 1.1 billion in March of 2020 from EUR 1.5 billion a year earlier. The goods deficit decreased to EUR 1.8 billion from EUR 2.1 billion, due to a 12% fall in non-oil imports as a result of the coronavirus lockdown. The oil balance did not change considerably. The primary income surplus widened to EUR 0.18 billion from EUR 0.09 billion and the secondary income account switched to a EUR 0.16 billion surplus from a EUR 0.06 billion deficit. On the other hand, the services surplus narrowed to EUR 0.35 billion from EUR 0.56 billion due to a 16.7% drop in net sea transport receipts as non-residents’ arrivals fell by 46.8%.
2020-05-21
Greek Current Account Gap Widens in February
Greece's current account deficit rose to EUR 1.14 billion in February of 2020 from EUR 1.02 billion in the same month last year, as the goods gap widened to EUR 1.79 billion from EUR 1.68 billion in February of 2019 and the services surplus decreased to EUR 0.39 billion from EUR 0.47 billion. Meantime, the primary income surplus shrank to EUR 0.17 billion from EUR 0.26 billion while the secondary income account posted a surplus of EUR 0.10 billion compared to a deficit of EUR 0.07 billion in the same month a year ago.
2020-04-21
Greek Current Account Gap Widens in January
Greece's current account deficit widened to EUR 1.29 billion in January 2020 from EUR 1.18 billion in the same month last year, as the secondary income account posted a EUR 0.08 billion deficit, compared to a EUR 0.11 billion surplus, while the service income surplus narrowed to EUR 0.38 billion from EUR 0.46 billion despite increasing tourism revenues (EUR 0.29 billion from EUR 0.23 billion). Meanwhile, the goods deficit declined to EUR 2.00 billion from EUR 2.20 billion a year ago, while the primary income surplus was almost unchanged at EUR 0.41 billion, compared to EUR 0.45 billion.
2020-03-20
Greek Current Account Gap Narrows in December
Greece's current account deficit shrank to EUR 0.54 billion in December of 2019 from EUR 1.51 billion in the same month last year. The secondary income balance improved shifting to a EUR 0.65 billion surplus from a EUR 0.05 billion gap, amid an increase in government receipts as a result of the second disbursement of SMP/ANFA profits from the European Stability Mechanism to the Greek government in the context of the medium-term debt relief measures. In addition, the goods deficit decreased to EUR 1.63 billion from EUR 1.82 billion in December 2018 and the primary income shortfall also fell to EUR 0.07 billion from EUR 0.14 billion. Meantime, the services surplus remained barely unchanged at EUR 0.51 billion. Considering the full year of 2019, the country's current account deficit declined to EUR 2.57 billion from EUR 5.23 billion a year earlier.
2020-02-20

Greece Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).