Greece's current account deficit shrank to EUR 840.3 million in February of 2021 from EUR 1,154.6 million in the corresponding month of the previous year. The goods gap narrowed to EUR 1,334 million from EUR 1,794 million a year ago, as imports slipped 5.1 percent while exports rose 9.5 percent, mainly due to changes in oil prices. Additionally, the primary income surplus increased to EUR 347 million from EUR 156 million on lower net interest, dividend and profit payments abroad. In contrast, the services surplus dropped to EUR 230 million from EUR 387 million, as the coronavirus pandemic reduced both the number of tourist arrivals (-87.8 percent) and receipts (-89.4 percent). Finally, the secondary income account switched to a deficit of EUR 84 million from a surplus of EUR 97 million. source: Bank of Greece

Current Account in Greece averaged -1027.63 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 May of 2021.

Current Account in Greece is expected to be -520.00 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 -880.00 in 12 months time. 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
-840.31 -435.72 2656.79 -4730.32 1997 - 2021 EUR Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-01-20 08:50 AM Nov €-1.259B €-0.767B €-1.4B
2021-02-22 09:00 AM Dec €-0.654B €-1.259B €-1.0B
2021-03-23 09:00 AM Jan €-0.436B €-0.654B €-1.6B
2021-04-20 08:00 AM Feb €-0.84B €-0.436B €-1.0B
2021-05-21 08:00 AM Mar €-0.84B
2021-06-18 08:00 AM Apr
2021-07-21 08:00 AM May
2021-08-20 07:30 AM Jun


News Stream
Greek Current Account Gap Narrows in February
Greece's current account deficit shrank to EUR 840.3 million in February of 2021 from EUR 1,154.6 million in the corresponding month of the previous year. The goods gap narrowed to EUR 1,334 million from EUR 1,794 million a year ago, as imports slipped 5.1 percent while exports rose 9.5 percent, mainly due to changes in oil prices. Additionally, the primary income surplus increased to EUR 347 million from EUR 156 million on lower net interest, dividend and profit payments abroad. In contrast, the services surplus dropped to EUR 230 million from EUR 387 million, as the coronavirus pandemic reduced both the number of tourist arrivals (-87.8 percent) and receipts (-89.4 percent). Finally, the secondary income account switched to a deficit of EUR 84 million from a surplus of EUR 97 million.
2021-04-20
Greek Current Account Gap Narrows in January
Greece's current account deficit shrank to EUR 0.44 billion in January of 2021 from EUR 1.29 billion in the corresponding month of the previous year. The goods gap narrowed to EUR 1.57 billion from EUR 2 billion a year ago, as imports slipped 16.7 percent while exports fell at a softer 13.4 percent. At the same time, the services surplus dropped to EUR 0.28 billion from EUR 0.40 billion as tourism revenues declined to 2.5 million euros in January from 281 million euros in the same month in 2020, due to the travel restrictions aimed at containing the coronavirus pandemic. In addition, the primary income surplus expanded to EUR 0.73 billion from EUR 0.39 billion, while the secondary income swung to a surplus of EUR 0.13 billion from a deficit of EUR 0.08 billion in January of 2020.
2021-03-23
Greece Current Account Gap Widens in December
Greece's current account deficit widened to EUR 0.654 billion in December of 2020 from EUR 0.572 billion in the corresponding month of the previous year. The services surplus shrank to EUR 0.22 billion from EUR 0.50 billion, as tourism revenues fell to EUR 33.5 million from EUR 294.4 million in December of 2019. On the other hand, the goods gap narrowed to EUR 1.53 billion from EUR 1.63 billion a year ago, as imports slipped 1.1 percent, while exports rose 2.0 percent. Additionally, primary income rebounded to EUR 0.10 billion from a EUR 0.08 billion deficit and the secondary income surplus narrowed to EUR 0.56 billion from EUR 0.64 billion. Considering full 2020, the current account deficit widened to EUR 11.17 billion, from EUR 2.73 billion in the prior year.
2021-02-22
Greek Current Account Gap Narrows in November
Greece's current account deficit shrank to EUR 1.26 billion in November of 2020 from EUR 1.39 billion in the corresponding month of the previous year. The goods gap narrowed to EUR 1.44 billion from EUR 1.68 billion a year ago, as imports slipped 9.1 percent while exports fell at a softer 5.7 percent. At the same time, the services surplus fell slightly to EUR 0.43 billion from EUR 0.56 billion, as tourism revenues declined to EUR 61 million from EUR 315 million in November of 2019. On the other hand, the primary income shortfall decreased slightly to EUR 0.09 billion from EUR 0.21 billion and the secondary income deficit rose to EUR 0.16 billion from EUR 0.05 billion.
2021-01-20

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).