Greece’s current account deficit widened to €2.3 billion in March of 2022 from €1.5 billion in the same month last year. It was the largest current account shortfall since last November, as the goods gap rose to €2.5 billion from €2.2 billion in March of 2021, with exports and imports rising 34.3% and 27.9%, respectively. At the same time, the primary income account switched to a deficit of €0.02 billion from €0.46 billion, and the secondary income gap rose to €0.19 billion from €12.3 million. This was partly offset by an improvement in the services account, which posted a surplus of €0.43 billion, larger than €0.27 billion a year ago, amid higher tourism revenues. In the first quarter of 2022, the country's current account gap increased by €3.8 billion to €6.4 billion. source: Bank of Greece

Current Account in Greece averaged -1035.51 EUR Million from 1997 until 2022, reaching an all time high of 2656.79 EUR Million in July of 2013 and a record low of -4730.32 EUR Million in December of 2007. This page provides the latest reported value for - Greece Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Greece Current Account - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.

Current Account in Greece is expected to be -1700.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Greece Current Account is projected to trend around -1000.00 EUR Million in 2023 and -500.00 EUR Million in 2024, according to our econometric models.

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Greece Current Account



Calendar GMT Actual Previous Consensus TEForecast
2022-04-20 08:00 AM Feb €-2.123B €-1.995B €-2.2B
2022-05-20 08:00 AM Mar €-2.33B €-2.123B €-2.5B
2022-06-17 08:00 AM Apr €-2.33B


Related Last Previous Unit Reference
Current Account -2329.82 -2123.18 EUR Million Mar 2022
External Debt 556421.52 538117.91 EUR Million Dec 2021
Capital Flows -2663.70 -1574.06 EUR Million Mar 2022
Remittances 91.72 100.21 EUR Million Mar 2022
Tourism Revenues 196.73 132.95 EUR Million Mar 2022
Foreign Direct Investment 1056.00 635.20 EUR Million Jan 2022

Greece Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).
Actual Previous Highest Lowest Dates Unit Frequency
-2329.82 -2123.18 2656.79 -4730.32 1997 - 2022 EUR Million Monthly
Current Prices, NSA

News Stream
Greek Current Account Gap Largest in 4 Months
Greece’s current account deficit widened to €2.3 billion in March of 2022 from €1.5 billion in the same month last year. It was the largest current account shortfall since last November, as the goods gap rose to €2.5 billion from €2.2 billion in March of 2021, with exports and imports rising 34.3% and 27.9%, respectively. At the same time, the primary income account switched to a deficit of €0.02 billion from €0.46 billion, and the secondary income gap rose to €0.19 billion from €12.3 million. This was partly offset by an improvement in the services account, which posted a surplus of €0.43 billion, larger than €0.27 billion a year ago, amid higher tourism revenues. In the first quarter of 2022, the country's current account gap increased by €3.8 billion to €6.4 billion.
2022-05-20
Greek Current Account Gap Widens Sharply in January
Greece’s current account deficit surged to roughly €2 billion in January of 2022 from €0.4 billion in the same month last year, mainly due to a worsening of the goods deficit to €3 billion from €1.6 billion a year ago, as imports jumped 57.9 percent to €6.4 billion whereas exports rose at a slower 35.4 percent to €3.3 billion. At the same time, the primary account surplus fell to €0.5 billion from €0.8 billion. Meanwhile, the services surplus increased slightly to €0.4 billion from €0.3 billion; and the secondary income surplus was barely unchanged at €0.1 billion.
2022-03-23
Greek Current Account Gap Widens in December
Greece’s current account deficit widened to €1.7 billion in December of 2021 from €0.6 billion in the same month last year, as the goods gap increased to €2.7 billion from €1.5 billion, as imports (44.7%) increased faster than exports (24.1%). At the same time, the primary income surplus narrowed to €0.04 billion from €0.1 billion, amid lower interest, dividend and profit receipts. On the other hand, the services surplus doubled to €0.4 billion from €0.2 billion, reflecting an improvement in travel, transport & other services balances and the secondary income surplus increased to €0.59 billion from €0.55 billion, mainly due to higher general government net receipts. In 2021, the current account deficit dropped to €10.6 billion from €10.9 billion in 2020, due to an increase in the services surplus and improvement in the primary and secondary income accounts, which were partly offset by a deterioration in the balance of goods.
2022-02-21