The current account deficit fell to 11.9 billion euros in the 11-month period of 2023, while tourism continued its impressive performance, with travel receipts soaring 15.4%, surpassing 20.11 billion euros.
According to the data announced by the Bank of Greece (BoG), in the period January-November 2023, the current account deficit decreased by 6.6 billion euros, compared to the corresponding period of 2022, falling to 11.9 billion euros.
The deficit in the balance of goods narrowed, as the drop in imports exceeded that of exports. At current prices, exports fell by 7.0% (‑2.8% at constant prices) and imports by 12.1% (‑4.2% at constant prices). In particular, at current prices, exports of non-fuel goods showed a small decrease of 1.2%, while the corresponding imports decreased by 2.2% (-5.2% and ‑3.5% at constant prices respectively).
17.3% jump in tourist arrivals
According to Bank of Greece (BoG) data, the surplus in the services balance widened, primarily due to the improvement in the travel balance and secondarily in the other services balance, which was partially offset by the deterioration in the transport balance. Non-resident traveler arrivals rose 17.3% leading travel receipts 15.4% higher compared to the corresponding period in 2022.
The deficit of the primary income balance worsened significantly compared to the corresponding period in 2022, due to the increase in net payments for interest, dividends and profits. The balance of secondary income showed a surplus against a deficit in the same period of 2022, mainly due to the recording of net receipts and, to a lesser extent, due to the increase in net receipts in the non-general government sectors of the economy.
