June 20, 2018 / 8:15 AM / a year ago

Greek current account deficit widens in April, tourism revenues flat

    ATHENS, June 20 (Reuters) - Greece's current account deficit
widened in April compared to the same month a year earlier on
the back of a larger trade gap and a smaller services balance
surplus, the Bank of Greece said on Wednesday.
    Central bank data showed the deficit at 1.344 billion euros 
($1.56 billion) from a deficit of 0.506 billion euros in April
2017. Tourism revenues edged higher to 490 million euros from
485 million in the same month a year earlier.
    "The rise in the balance of goods deficit by 503 million
euros is mainly attributable to the higher net oil import bill,"
the Bank of Greece said.
    It said that excluding oil, the trade gap showed a small
increase of 73 million euros as imports increased in absolute
terms more than exports.
    A contraction in the services surplus was due to lower net
receipts, mainly from travel services, despite a 9.6 percent
rise in arrivals, the central bank said. 
    In 2017 as a whole, Greece's current account deficit reached
1.5 billion euros, down by 418 million year-on-year.
CURRENT ACCOUNT (bln euros)      2018    2017

January                          -0.586 -0.340
February                         -1.294 -1.030
March                            -0.956 -1.412
April                            -1.344 -0.506                  
* revised
source: Bank of Greece

($1 = 0.8639 euros)

 (Reporting by George Georgiopoulos)
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