Current account

Turkey's current account balance posted a surplus in October for the third month in a row, the country's central bank announced on Dec. 11.

Greece's nine-month gross domestic output data hovered around the annual target for a 2.1 percent expansion, but investments remain in negative territory and the economy has been saved by tourism, exports and private consumption. Imports are also growing, threatening the balance of the current accounts.

Greece's current account balance showed a smaller surplus in September compared to the same month a year ago on the back of a wider deficit in the balance of goods, driven by a rise in oil imports, the Bank of Greece said on Tuesday.

Central bank data showed the surplus shrank to 551 million euros from a surplus of 978 million euros in September 2017.

Tourist arrivals in Greece jumped 22.3 percent in June compared with the same month last year, with tourism revenues rising 16 percent, Bank of Greece (BoG) data on the current account surplus released Monday show.

In the first half of the year, tourist arrivals and revenues rose 19.1 percent and 18.9 percent respectively, against the first six months of 2017.

Greece's current account deficit widened in April compared to the same month a year earlier on the back of a larger trade gap and a smaller services balance surplus, the Bank of Greece said on Wednesday.

Greece's current account deficit shrank in March compared to the same month a year earlier on the back of a lower trade gap which more than offset a decrease in the services balance surplus, the Bank of Greece said on Monday.

The International Monetary Fund on May 14 stepped up pressure on Chancellor Angela Merkel’s government to reduce Germany’s persistently large current account surplus by hiking public investment.

The Turkish government has announced the details of a new project-based $34 billion package in an effort to create new jobs and push down the country's rising current account deficit.

Greece's current account deficit widened in January compared to the same month a year earlier on the back of a worsening in the trade and services balances, the Bank of Greece said on Friday.
 

Greece's current account deficit widened in December 2017 compared to the same month a year earlier on the back of a worsening in all components apart from the trade gap which shrank, the Bank of Greece said on Tuesday.