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Home arrow About Us arrow Embassy of Greece in London arrow News arrow Greek current account balance shows 2.2-bln-euro surplus in Jan-Oct

Greek current account balance shows 2.2-bln-euro surplus in Jan-Oct

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Greece's current account balance showed a surplus of 2.2 billion euros in the January-October period, against a deficit of 3.4 billion euros in the same period of 2012, the Bank of Greece said on Friday.

In a report, the central bank attributed this development primarily to a significant decline in the trade deficit (down by 2.7 billion).

In more detail, the contraction of the trade deficit is largely attributable to the considerably reduced import bill (by 5.4 percent) and, secondarily, to a 4.5 pct rise in export receipts.

Apart from oil product exports, which account for the bulk of this increase, the contribution of the sectors of foods and beverages, minerals, and non-metallic mineral products was also significant. The decline in imports resulted mainly from oil.

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