January 22, 2018 / 9:13 AM / 3 months ago

Greek current account deficit shrinks in November, tourism revenues rise

    ATHENS, Jan 22 (Reuters) - Greece's current account deficit
shrank in November 2017 compared to the same month a year
earlier on the back of a lower trade gap, the Bank of Greece
said on Monday.
    Central bank data showed the deficit at 0.954 billion euros
from a deficit of 1.25 billion euros in November 2016. Tourism
revenues rose to 225 million euros from 222 million in the same
month a year earlier.
    "In November the current account showed an improvement of
296 million euros year-on-year. This development is almost
entirely attributable to a decrease in the deficit of the
balance of goods," the Bank of Greece said.
    In 2016 as a whole, Greece had a current account deficit of
1.1 billion euros versus a surplus of 206 million in 2015 as a
result of a lower services balance surplus.
    
******************************************************
CURRENT ACCOUNT (bln euros)      2017   2016
January                        -0.271 -0.771
February                       -0.937 -0.828
March                          -1.324 -0.772
April                          -0.462 -0.872
May                            -0.582 -0.457
June                           +0.842 +0.910
July                           +1.569 +1.356
August                         +1.828 +1.664
September                      +1.213 +0.865
October                        -0.624 -0.268
November                       -0.954 -1.250                 
-----------------------------------------------
* revised
source: Bank of Greece        

 (Reporting by George Georgiopoulos)
  
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