Financial News: Greece Current Account Deficit Widens

Greece Current Account Deficit Widens

04/19/2024 - 07:17:00 (RTTNews)

(RTTNews) - Greece's current account deficit increased in February from a year ago due to a deterioration in the balance of goods and the primary and secondary income accounts, data from the Bank of Greece showed on Friday.

The current account deficit rose to EUR 3.16 billion from EUR 1.34 billion in the same month last year.

The visible trade deficit widened to EUR 3.1 billion from EUR 2.3 billion last year as exports fell amid an increase in imports. Meanwhile, the surplus in the services balance rose to EUR 375 million from EUR 351 million a year ago.

The primary income account turned to a shortfall of EUR 278 million from a surplus of EUR 511 million in February 2023.

The secondary income balance also registered a deficit of EUR 154 million in February versus a surplus of EUR 74 million last year.

Data showed that the capital account balance showed a deficit of EUR 149.5 million, while the financial account deficit widened to EUR 3.3 billion.

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