Greece's current account deficit narrowed slightly to EUR 1.39 billion in November 2019 from EUR 1.45 billion in the same month last year, due to an improvement in the primary and the secondary income accounts, as well as to a slight decrease in the goods deficit. By contrast, the services surplus declined. In the January-November period, the current account deficit narrowed to EUR 2.0 billion from EUR 3.7 billion in the same period of 2018.

Current Account in Greece averaged -1035.99 EUR Million from 1997 until 2019, reaching an all time high of 2656.80 EUR Million in July of 2013 and a record low of -4730.30 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.

Current Account in Greece is expected to be -1100.00 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 2020, according to our econometric models.


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Greece Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-1392.10 -673.40 2656.80 -4730.30 1997 - 2019 EUR Million Monthly
Current Prices, NSA

Calendar GMT Actual Previous Consensus TEForecast
2019-10-21 08:00 AM Aug €1.87B €1.28B €1.2B
2019-11-20 09:00 AM Sep €0.887B €1.874B €1.6B
2019-12-20 09:00 AM Oct €-0.673B €0.887B €-0.7B
2020-01-20 09:00 AM Nov €-1.392B €-0.673B €-1.4B
2020-02-20 09:05 AM Dec €-0.9B
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
2019-12-20
Greek Current Account Deficit Narrows in October
Greece's current account deficit narrowed to EUR 0.67 billion in October 2019 from EUR 0.91 billion in the same month of the previous year, as the goods gap declined to EUR 2.05 billion from EUR 2.41 billion and the primary income deficit dropped to EUR 0.09 billion from EUR 0.11 billion. Meanwhile, the secondary income gap was little-changed at EUR 0.15 billion, while the services surplus shrank to EUR 1.63 billion from EUR 1.75 billion, despite an increase in tourism revenues (EUR 1.44 billion from EUR 1.38 billion).

2019-11-20
Greek Current Account Surplus Widens in September
Greece's current account surplus rose to EUR 887 million in September 2019 from EUR 548.1 million in the corresponding month of the previous year. The services surplus widened to EUR 3,117.1 million from EUR 2,818.2 million a year earlier, as travel receipts increased by 16 percent; and the goods deficit decreased to EUR 1,989.1 million from EUR 2,070.6 million. Meantime, the primary income gap shrank to EUR 43.4 million from EUR 95.8 million in September 2018, mainly on account of lower net interest, dividend and profit payments, while the secondary income shortfall increased to EUR 197.9 million from EUR 103.7 million. Considering the first nine months of the year, the country's current account deficit narrowed sharply to EUR 24 million from EUR 1,357.3 million in the same period a year ago.

2019-10-21
Greece Posts Largest Current Account Surplus in 4 Years
Greece’s current account surplus widened to EUR 1.87 billion in August 2019 from EUR 1.35 billion in the corresponding month of the previous year. It was the largest current account surplus since August 2015, as the goods deficit narrowed to EUR 1,868 million from EUR 1,936 million and the services surplus increased to EUR 4,511 million from EUR 3,968 million a year earlier. On the other hand, the primary income gap rose to EUR 657 million from EUR 576 million and the secondary income shortfall advanced to EUR 112 million from EUR 102 million in August 2018.

2019-09-20
Greek Current Account Surplus Narrows in July
Greece's current account surplus narrowed to EUR 1.28 billion in July 2019 from EUR 1.31 billion in the same month last year, as imports outpaced exports. Still, tourism revenues rose to EUR 3.65 billion from EUR 3.28 billion in the same month a year earlier.

2019-08-20
Greek Current Account Swings to Surplus
Greece posted a EUR 874 million surplus in June 2019, compared to a EUR 9 million deficit in the same month last year, as the services surplus increased to EUR 2,879 million from EUR 2,541, with tourism revenues rising to EUR 2,620 million from EUR 2,252 million. In addition, the goods deficit narrowed to EUR 1,578 million from EUR 2,073 million a year ago, while the primary income gap decreased to EUR 373 million from EUR 454 million. The secondary income deficit however widened to EUR 55 million from EUR 23 million a year earlier.

2019-07-19
Greek Current Account Surplus Widens in May
The Greek current account surplus increased to EUR 300.6 million in May of 2019 from EUR 37.5 million in the same month a year earlier. The primary income account recorded a EUR 49.6 million surplus compared to a EUR 145.6 million deficit a year ago while the secondary income surplus widened sharply to EUR 736.6 million from EUR 0.3 million. On the other hand, the goods and service account shifted to a EUR 485.7 million deficit from a EUR 182.7 million surplus a year earlier. Considering the January-May period, the current account gap rose to EUR 4,817 million from EUR 4,693 million in the same period of 2018.


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).

Greece Trade Last Previous Highest Lowest Unit
Balance of Trade -1608.00 -1966.90 -619.80 -4328.60 EUR Million [+]
Current Account -1392.10 -673.40 2656.80 -4730.30 EUR Million [+]
Current Account to GDP -1.10 -1.00 -0.10 -15.20 percent [+]
Imports 4320.40 4832.10 6219.50 1919.00 EUR Million [+]
Exports 2712.40 2865.20 3202.10 691.90 EUR Million [+]
External Debt 445385.36 423049.04 453124.10 142217.00 EUR Million [+]
Capital Flows -524.04 -311.85 6037.70 -3705.40 EUR Million [+]
Remittances 135.10 121.80 247.30 50.10 EUR Million [+]
Gold Reserves 113.40 113.31 132.56 107.21 Tonnes [+]
Terrorism Index 4.17 4.29 5.91 3.43 [+]
Tourism Revenues 313.80 1441.70 4104.40 109.00 EUR Million [+]
Tourist Arrivals 531055.00 1681571.00 3881988.00 140107.00 persons [+]
Foreign Direct Investment 261.10 574.80 2608.90 -532.30 EUR Million [+]