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.