March 23, 2018 / 9:22 AM / in a year

Greek current account deficit widens in January, tourism revenues drop

    ATHENS, March 23 (Reuters) - Greece's current account
deficit widened in January compared to the same month a year
earlier on the back of a worsening in the trade and services
balances, the Bank of Greece said on Friday.
    Central bank data showed the deficit at 586 million euros
from a deficit of 340 million euros in January 2017. Tourism
revenues fell slightly to 153 million euros from 158 million in
the same month a year earlier.
    "The rise in the deficit of the balance of goods is
primarily accounted for by an increase in the negative oil bill,
and secondarily, a rise in the deficit of the non-oil balance of
goods," the Bank of Greece said.
    It said exports of goods continued their upward course,
increasing by 16.2 percent at constant prices year-on-year but
at the same time imports, mainly of oil and ships, grew more.
    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
* revised
source: Bank of Greece

 (Reporting by George Georgiopoulos)
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