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Financial News: Greece Current Account Surplus Grows In July

Greece Current Account Surplus Grows In July

09/20/2022 - 09:04:00 (RTTNews)

(RTTNews) - Greece's current account deficit increased notably in July, mainly due to an improvement in the balance of services, data from the Bank of Greece showed on Tuesday.

The current account surplus almost doubled to EUR 1.1 billion in July from EUR 570.1 billion in the same period last year.

The visible trade deficit widened to EUR 3.09 billion from EUR 2.23 billion last year, due to a larger rise in imports than in exports.

The surplus in the services balance rose notably to EUR 3.93 billion from EUR 2.48 billion a year ago.

The deficit of the primary income account narrowed to EUR 302.4 million from EUR 349.8 million.

The secondary income balance registered a surplus of EUR 568.2 million versus EUR 669.3 million in the previous year.

In July, the capital account balance turned to a surplus of EUR 475.7 million from a deficit of EUR 48.4 million a year ago, while the financial account surplus stood at EUR 1.45 billion.

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