Greece’s Current Account Deficit Shrinks in November
Greece’s current account deficit shrank slightly in November compared to the same month in 2023, according to data released by the Bank of Greece. The deficit stood at 3.15 million euros ($3.25 million) in November, down from a deficit of 3.18 billion euros in the same month a year earlier.
The improvement was largely due to robust tourism revenues, which rose by nearly 45% year-on-year to 0.62 billion euros. Foreign arrivals also increased by 23.6%. However, imports of goods outpaced exports, which offset some of the gains.
Despite the improvement in November, Greece’s current account deficit for the 11 months to November stood at 11.5 billion euros, up from a deficit of 11 billion euros in the same period last year.