Current account surplus widens in July, tourism helps

Greece’s current account surplus widened in July, helped by a smaller trade gap, bumper tourism revenues and inflows from eurozone central banks, the Bank of Greece said on Wednesday.

The current account balance, a key measure of economic competitiveness, showed a surplus of 2.727 billion euros from 0.508 billion euros in the same month last year.

Tourism receipts, the country’s biggest money earner, rose 12.3 percent year-on-year to 2.359 billion euros in July, bringing total revenue in the first seven months of the year to 5.683 billion euros, up 15.4 percent year-on-year.