BoG:travel service balance surplus boosts current accounts
The current account deficit recorded a decrease of €2.5 billion year on year and stood at €5.4 billion.
Greek current accounts recorded a surplus in the first 8 months of 2021 and among alias the improvement in the travel service balance has been critical on this results.
he rise in the services surplus is primarily due to an improvement of the travel services balance; however, this was partly offset by a decline in the surplus of the transport balance.
Non residents’ arrivals grew by 79.2% and relevant receipts by 135.7% year on year, accounting for half the receipts in 2019.
According to the data unveiled by the Bank of Greece, in the January August 2021 period, the current account deficit recorded a decrease of €2.5 billion year on year and stood at €5.4 billion.
A rise in the deficit of the balance of goods is due to the fact that imports increased more than exports in absolute terms. In more detail, exports grew by 30.3% and 13.5% at current and constant prices, respectively, while imports rose by 27.2% at current prices and by 9.2% at constant prices.
Specifically, non oil exports and imports of goods grew almost at the same rate (around 24%) at current prices; at constant prices they increased by 19.7% and 22.8%, respectively.