Greece Current Account Gap Narrows In November

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The Greece current account deficit narrowed in November from the previous year, the Bank of Greece reported Wednesday.

The current account shortfall fell to EUR 1.26 billion from EUR 1.38 billion in the same period last year.

The decline in deficit was driven by an improvement in the balance of goods and the primary income account, which was partly offset by deterioration in the services balance and the secondary income account.

The deficit on goods trade decreased to EUR 1.44 billion from EUR 1.68 billion in the previous year. At the same time, the services trade showed a surplus of EUR 425.6 billion versus a EUR 560.4 million surplus last year.

The shortfall in primary income fell to EUR 87.9 million from EUR 213.9 million. Meanwhile, the deficit on secondary income widened to EUR 158.3 million from EUR 48.6 million last year.

In the January-November period, the current account showed a deficit of EUR 10.5 billion, up by EUR 8.4 billion year-on-year.


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