Greece’s current account deficit swung to a deficit in June this year versus a surplus last year, mainly due to the deterioration in travel and services balances, the Bank of Greece said Thursday.
The current account showed a deficit of EUR 1.4 billion versus a surplus of EUR 805 million in June last year.
“This development is mainly attributable to a deterioration in the travel balance and, therefore, the services balance, which was partly offset by an improvement in the balance of goods, as imports of goods decreased more than the respective exports,” the bank said.
Meanwhile, the primary and the secondary income accounts did not show any significant change, the bank added.
In the first half of the year, the current account deficit rose by EUR 2.9 billion year-on-year to EUR 7.0 billion.
For comments and feedback contact: editorial@rttnews.com
[Economic News][1]
What parts of the world are seeing the best (and worst) economic performances lately? Click[here][2] to check out our [Econ Scorecard][2] and find out! See up-to-the-moment rankings for the best and worst performers in [GDP][3], [unemployment rate][4], [inflation][2] and much more.