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Greece August surplus shrinks 262m euros y-o-y

Staff Writer | October 23, 2018
Greece's current account balance showed a surplus of 1.6 billion euros in August, down 262 million euros y-o-y, data from the Bank of Greece showed.
Greece street
Europe   In the January-August period, the current account showed a deficit
The central bank cited a deterioration in the primary income account, wider balance of goods deficit and a small decline in the surplus of the balance of services.

“The deficit of the balance of goods registered a small increase, despite a pickup in export growth, as imports rose more than exports in absolute terms,” BoG said.

Also, the surplus of the services balance narrowed due to a deterioration in the other services balance, which is mainly attributable to a worsening of the financial services balance. By contrast, the travel balance and the transport balance improved. Specifically, non-residents’ arrivals rose by 4.8% in August year-on-year and the corresponding receipts grew by 1.4%.

In the January-August period, the current account showed a deficit of 910 million euros, up by 857 million euros y-o-y.


 

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