Greece’s current account deficit widened notably in April from the last year due to the deterioration in the balances of goods and services and the secondary income account, data published by Bank of Greece showed on Friday.

The current account deficit increased to EUR 2.08 billion in April from EUR 1.15 billion in the previous year.

The rise in the deficit on goods trade by EUR 698 million to EUR 1.96 billion was attributable to a stronger increase in imports in absolute terms than exports. The surplus on services trade fell to EUR 302.3 million due to the deterioration in the transport balance.

The deficit of the primary income account fell almost by half to EUR 82.6 million, mainly on account of lower net interest, dividend and profit payments.

The deficit of the secondary income account more than doubled from last year to EUR 333.9 million, chiefly as a result of higher general government payments.

In the January-April 2021 period, the current account deficit recorded a small increase of EUR 107 million from last year to EUR 4.8 billion.

The material has been provided by InstaForex Company – www.instaforex.com

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