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Financial News: Greece Current Account Deficit Widens In November

Greece Current Account Deficit Widens In November

01/20/2023 - 06:41:00 (RTTNews)

(RTTNews) - Greece's current account deficit widened sharply in November from the last year, Bank of Greece reported Friday.

The current account gap rose to EUR 3.93 billion from EUR 2.74 billion in the previous year.

The increase in shortfall reflects worsening of the balance of goods and services and the deteriorations in primary and the second income accounts.

The deficit on goods trade rose to EUR 3.8 billion from EUR 2.9 billion a year ago. Moreover, the surplus on services decreased to EUR 324.5 million from EUR 484.9 million.

The primary income shortfall widened to EUR 263.1 million from EUR 151.1 million. Similarly, the deficit on secondary income rose to EUR 186.8 million from EUR 166.9 million.

During January to November, the current account deficit was EUR 17.48 billion versus a EUR 9.99 billion shortfall in the same period last year. In November, the deficit of the combined current and capital account increased to EUR 3.7 billion.

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