Greek current account gap widens 26 pct y/y in April

Greece’s current account deficit widened 26 percent in April, due to a higher trade gap and lower tourism and shipping receipts, the Bank of Greece said on Tuesday.

The current account balance, a key measure of economic competitiveness, showed a deficit of 1.187 billion euros ($1.55 billion) from 945 million euros in the same month last year.

Tourism receipts, the country’s biggest money earner, dropped 13 percent year-on-year to 290 million euros in April.

This brings total tourism receipts in the first four months of the year to 683 million euros, down 7.9 percent compared with the same period last year. [Reuters]