Price–specie flow mechanism

Greece's current account deficit fell by 431.3 million euros year-on-year to stand at €1.6 billion, the Bank of Greece said on Friday.

In a monthly report the central bank said that the reduction in the goods deficit could be attributed to a larger drop in imports than exports in absolute terms.

Greece's current account deficit recorded an increase of 120.7 million euros year‑on‑year and stood at €1.8 billion in April, but fell €3 billion to stand at €5.6 billion in the January-April period, the Bank of Greece said on Tuesday.