Greece posted a current account surplus of EUR 0.538 billion in July of 2021, compared to EUR 0.797 billion deficit in the corresponding month of the previous year, mainly due to an improvement in the service balance (EUR 2.46 billion from EUR 0.89 billion in July 2020), as tourism revenues jumped to EUR 2.275 billion from EUR 0.6780 billion in July last year when global restrictions to stem the spread of the COVID-19 pandemic took a heavy toll on travel. Both primary (EUR -0.36 billion from EUR -0.55 billion) and secondary income accounts (EUR 0.67 billion from EUR 0.45 billion) also improved which was partly offset by a deterioration in the balance of goods. Meanwhile, the goods deficit increased to EUR 2.23 billion from EUR 1.59 billion in the same month last year. Considering January-July, the current account deficit dropped to EUR 6.96 billion from EUR 7.85 billion, due to an improvement in the balance of services and the primary income account. source: Bank of Greece

Current Account in Greece averaged -1029.51 EUR Million from 1997 until 2021, 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 September of 2021.

Current Account in Greece is expected to be -870.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Greece Current Account is projected to trend around -780.00 EUR Million in 2022 and -650.00 EUR Million in 2023, according to our econometric models.

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Greece Current Account

Actual Previous Highest Lowest Dates Unit Frequency
538.00 -1337.90 2656.79 -4730.32 1997 - 2021 EUR Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-06-18 08:00 AM Apr €-2.079B €-1.462B €-1.2B
2021-07-21 08:00 AM May €-1.403B €-2.079B €-1.7B
2021-08-20 07:10 AM Jun €-1.338B €-1.403B €-1.2B
2021-09-20 08:00 AM Jul €0.538B €-1.338B €-0.8B
2021-10-21 08:00 AM Aug €0.538B
2021-11-19 09:00 AM Sep
2021-12-21 09:00 AM Oct


News Stream
Greek Current Account Balance Swings to Surplus in July
Greece posted a current account surplus of EUR 0.538 billion in July of 2021, compared to EUR 0.797 billion deficit in the corresponding month of the previous year, mainly due to an improvement in the service balance (EUR 2.46 billion from EUR 0.89 billion in July 2020), as tourism revenues jumped to EUR 2.275 billion from EUR 0.6780 billion in July last year when global restrictions to stem the spread of the COVID-19 pandemic took a heavy toll on travel. Both primary (EUR -0.36 billion from EUR -0.55 billion) and secondary income accounts (EUR 0.67 billion from EUR 0.45 billion) also improved which was partly offset by a deterioration in the balance of goods. Meanwhile, the goods deficit increased to EUR 2.23 billion from EUR 1.59 billion in the same month last year. Considering January-July, the current account deficit dropped to EUR 6.96 billion from EUR 7.85 billion, due to an improvement in the balance of services and the primary income account.
2021-09-20
Greek Current Account Deficit Narrows in June
Greece's current account deficit narrowed slightly to EUR 1.34 billion in June 2021 from EUR 1.43 billion in the same month last year, as the primary income gap declined to EUR 0.12 billion from EUR 0.34 billion, while the services surplus increased to EUR 0.83 billion from EUR 0.31 billion mainly boosted by a sharp increase in tourism revenues (EUR 0.79 billion from EUR 0.08 billion in June 2020). Meanwhile, the goods deficit rose to EUR 2.08 billion from EUR 1.34 billion in the same month last year. Considering the first half of the year, the current account deficit widened to EUR 7.5 billion from EUR 7.1 billion in the same period of 2020.
2021-08-20
Greek Current Account Gap Widens in May
Greece's current account deficit widened to EUR 1,403 million in May 2021, from EUR 926 million in the same month last year, as the goods gap increased to EUR 1,817 million from EUR 1,206 million. At the same time, the services surplus was little-changed at EUR 316 million from EUR 331 million, with tourism revenues rising slightly to EUR 168 million from EUR 44 million in May last year, while the primary income surplus advanced to EUR 192 million from EUR 65 million. The secondary income deficit declined to EUR 94 million from EUR 116 million a year ago.
2021-07-21
Greek Current Account Gap Widens the Most in 9 Years
Greece's current account deficit widened to EUR 2,079 million in April of 2021 from EUR 1,146 million in the corresponding month of the previous year and was the largest current account deficit since March of 2012. The goods gap increased to EUR 1,965 million from EUR 1,266 million a year ago, as imports increased by 56.0 percent and exports went up 56.6 percent. Additionally, the services surplus shrank to EUR 302 million, from EUR 387 million, weighed down by the transport balance, while the travel account improved on the back of a resurgence in tourist arrivals (185.6 percent) and receipts (210.9 percent). Also, the shortfall in the secondary income account deepened to EUR 334 million, from EUR 125 million, mainly due to higher general government payments. Finally, the primary income deficit decreased to EUR 83 million, from EUR 141 million, underpinned by lower net interest, dividend and profit payments abroad.
2021-06-18

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).