ECONOMY

Greece’s current account deficit grows in December

Greece’s current account deficit grows in December

Greece’s current account balance showed a wider deficit in December last year compared to the same month in 2020 while tourism revenues rose, the Bank of Greece said on Monday.

Central bank data showed the current account gap reached 1.707 billion euros, from a deficit of €639 million in December 2020.

The Bank of Greece said the widening of the current account deficit was the result of a larger trade gap as imports outpaced exports.

At constant prices exports were down 1.5% while imports rose 17.1%.

In 2021 as a whole, Greece’s current account deficit shrank by €356 million compared to a year earlier, reaching €10.6 billion. [Reuters]