Greece’s current account deficit shrank by €573.2 million compared to the
Greece’s current account deficit shrank by €573.2 million compared to the same month in the previous year, reaching €2.5 billion in Feb. 2025, according to the Bank of Greece (BoG).
The improvement of Greece’s current account was mainly attributed to a more robust balance of goods and, to a lesser extent, an improved primary income account. These gains were partially offset by a decline in the services balance and a deterioration in the secondary income account.
The narrowing of the goods deficit reflected a combination of falling imports and a slight rise in exports. Exports increased by 0.9% at current prices—or 3.4% in constant price terms—while imports dropped by 7.6% (7.9% in constant prices). Exports of non-oil goods rose by 1.1% at current prices (2.4% in constant terms), and imports in this category fell by 3.0% (4.1% in constant prices).
The surplus in the services balance shrank, affected by a decline in all major components. Although non-resident arrivals fell slightly by 0.8% compared to February 2024, travel receipts registered a modest increase of 0.5%.
The primary income account deficit was nearly halved on a year-on-year basis, primarily due to lower net payments of interest, dividends, and profits, along with an
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