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Greece posts deficit of 198m euros in October

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Staff Writer |
Greece bank
Greek economy   The surplus of the services balance rose

Greece's current account balance posted a deficit of 198 million euros in October, against a surplus of 265 million euros in the same month of 2015, according to bank of Greece data

“This development is attributable to the deterioration in the primary and secondary income accounts and a small increase in the deficit of the balance of goods compared with October 2015,” BoG said.

Still, the surplus of the services rose, while the overall balance of goods and services improved, as total exports of goods and services grew faster (7.8%) than the corresponding imports (5.9%).

The surplus of the services balance rose by 75 million euros as a result of an improvement in the travel balance. In particular, in October non-residents' arrivals rose by 17.3% and the corresponding receipts by 14.2%.

In the January-October period, the current account showed a surplus of 1.2 billion euros down by 919 million euros year-on-year.

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