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.

Current Account in Greece averaged -1034.19 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 2021, according to our econometric models.


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Greece Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-540.00 -1392.00 2656.80 -4730.30 1997 - 2019 EUR Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
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 09:00 AM Dec €-0.54B €-1.392B €-0.9B
2020-03-20 09:00 AM Jan
2020-04-20 08:15 AM Feb
2020-05-21 08:00 AM Mar € -1.1B
2020-06-19 08:15 AM Apr


News Stream
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
Greek Current Account Gap Narrows in November
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.
2020-01-20
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).
2019-12-20
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.
2019-11-20

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).