Greece Current Account Turns to Deficit

Greece’s current account deficit narrowed to €2.34 billion in March 2026 from €3.20 billion in the corresponding month a year earlier. The goods account shortfall decreased to €2.59 billion from €3.10 billion, as exports surged 26.7% while imports rose at a slower 7.5% pace. The services surplus also increased to €0.56 billion from €0.35 billion in March 2025, supported by higher revenues from travel and transport. The primary income deficit narrowed to €0.13 billion from €0.30 billion a year earlier. In contrast, the secondary income gap edged up to €0.18 billion from €0.15 billion. Over the January to March 2026 period, the country posted a current account deficit of €6.96 billion, compared with €4.95 billion in the same period last year.

Greece’s current account recorded a deficit of €1.29 billion in January 2026, reversing a surplus of €0.87 billion in the same month last year. The shift was mainly driven by a narrowing in income balances, as the primary income surplus fell to €0.11 billion from €0.26 billion due to lower net receipts from other primary income, while the secondary income surplus dropped sharply to €1.09 billion from €3.27 billion amid weaker inflows from other sectors excluding general government. Meanwhile, the goods deficit edged down to €2.81 billion from €2.91 billion as imports declined more than exports, and the services surplus widened to €0.33 billion from €0.25 billion, supported by strong travel revenues.

Greece’s current account deficit widened to €3.86 billion in December 2025 from €3.73 billion in the corresponding month a year ago, marking the largest deficit recorded since November 2022. The goods account shortfall increased to €3.56 billion from €3.19 billion, as imports advanced by 6.6%, while exports rose by 2.6%. The services surplus also shrank to €0.42 billion from €0.49 billion in December 2024. In addition, the secondary income deficit expanded to €0.31 billion from €0.20 billion. Meanwhile, the primary income deficit decreased sharply to €0.41 billion from €0.83 billion, reflecting a rise in net receipts. For the full year, the country posted a current account deficit of €14.11 billion, compared with €18.61 billion recorded last year.