January 21, 2019 / 9:20 AM / a month ago

Greek current account deficit widens in November, tourism revenues up

    ATHENS, Jan 21 (Reuters) - Greece's current account balance
showed a wider deficit in November compared to the same month a
year ago, on the back of a larger trade gap and a weaker primary
income balance, the Bank of Greece said on Monday.
    Central bank data showed the deficit at 1.417 billion euros
from a deficit of 1.125 billion euros in November 2017.
    Tourism revenues increased to 326 million euros from 229
million in the same month a year earlier.
    "The deficit of the balance of goods grew, owing to a
worsening of the oil balance, while the non-oil balance of goods
improved. The primary income account deteriorated, almost
exclusively as a result of higher net interest, dividend and
profit payments," the Bank of Greece said.
    In January to November, Greece's current account showed a
deficit of 3.8 billion euros, up by 2.1 billion euros
year-on-year as the trade deficit widened.
    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
May                               0.191  -0.658
June                              0.210   0.737
July                              1.577   1.545
August                            1.564   1.826
September                         0.551   0.978
October                          -0.871  -0.789
November                         -1.417  -1.125              
----------------------------------------------
 source: Bank of Greece                                         
               

 (Reporting by George Georgiopoulos
Editing by Karolina Tagaris)
  
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