Greece posted a current account deficit of EUR 914 million in May 2020, compared to a EUR 270 million surplus in the same period last year, as the services surplus shrank to EUR 328 million from EUR 1,796 million with tourism revenues slumping to EUR 13 million from EUR 1,566 million due to the coronavirus pandemic. At the same time, the secondary income account posted a EUR 115 million deficit, compared to a EUR 735 million surplus last year. Meanwhile, the goods deficit dropped to EUR 1,206 million from EUR 2,304 and the primary income surplus increased to EUR 79 million from EUR 44 million.

Current Account in Greece averaged -1035.57 EUR Million from 1997 until 2020, 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 August of 2020.

Current Account in Greece is expected to be -1690.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Greece to stand at -520.00 in 12 months time. In the long-term, the Greece Current Account is projected to trend around -920.00 EUR Million in 2021 and -650.00 EUR Million in 2022, according to our econometric models.

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Greece Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-913.86 -1132.57 2656.79 -4730.32 1997 - 2020 EUR Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-21 08:00 AM Feb €-1.138B €-1.291B €-1.0B
2020-05-21 08:00 AM Mar €-1.106B €-1.138B € -1.1B
2020-06-19 08:00 AM Apr €-1.133B €-1.106B
2020-07-21 08:00 AM May €-0.914B €-1.133B €-1.6B
2020-08-20 08:00 AM Jun €-0.914B €-1.3B
2020-09-21 08:00 AM Jul
2020-10-21 08:00 AM Aug
2020-11-20 09:00 AM Sep € 1.7B


News Stream
Greek Current Account Swings to Deficit in May
Greece posted a current account deficit of EUR 914 million in May 2020, compared to a EUR 270 million surplus in the same period last year, as the services surplus shrank to EUR 328 million from EUR 1,796 million with tourism revenues slumping to EUR 13 million from EUR 1,566 million due to the coronavirus pandemic. At the same time, the secondary income account posted a EUR 115 million deficit, compared to a EUR 735 million surplus last year. Meanwhile, the goods deficit dropped to EUR 1,206 million from EUR 2,304 and the primary income surplus increased to EUR 79 million from EUR 44 million.
2020-07-21
Greece Current Account Gap Shrinks for 2nd Month
The current account gap in Greece narrowed to EUR 1.1 billion in April of 2020 from EUR 1.4 billion a year earlier. The goods deficit decreased to EUR 1.3 billion from EUR 1.8 billion, mainly due to a decline in the value of oil exports and imports, amid a decrease in international oil prices. The services surplus shrank to EUR 0.39 billion from EUR 0.57 billion, reflecting a sharp deterioration in the travel and transport balances. Also, the primary income gap fell to EUR 0.13 billion from EUR 0.16 billion while the secondary income deficit widened to EUR 0.13 billion from EUR 0.08 billion.
2020-06-19
Greece Current Account Deficit Narrows in March
The current account gap in Greece narrowed to EUR 1.1 billion in March of 2020 from EUR 1.5 billion a year earlier. The goods deficit decreased to EUR 1.8 billion from EUR 2.1 billion, due to a 12% fall in non-oil imports as a result of the coronavirus lockdown. The oil balance did not change considerably. The primary income surplus widened to EUR 0.18 billion from EUR 0.09 billion and the secondary income account switched to a EUR 0.16 billion surplus from a EUR 0.06 billion deficit. On the other hand, the services surplus narrowed to EUR 0.35 billion from EUR 0.56 billion due to a 16.7% drop in net sea transport receipts as non-residents’ arrivals fell by 46.8%.
2020-05-21
Greek Current Account Gap Widens in February
Greece's current account deficit rose to EUR 1.14 billion in February of 2020 from EUR 1.02 billion in the same month last year, as the goods gap widened to EUR 1.79 billion from EUR 1.68 billion in February of 2019 and the services surplus decreased to EUR 0.39 billion from EUR 0.47 billion. Meantime, the primary income surplus shrank to EUR 0.17 billion from EUR 0.26 billion while the secondary income account posted a surplus of EUR 0.10 billion compared to a deficit of EUR 0.07 billion in the same month a year ago.
2020-04-21

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).