Greek current account deficit widens in March, tourism revenues drop


Greece’s current account deficit widened in March compared to the same month a year earlier, as a higher trade gap more than offset an increase in the services balance surplus, the Bank of Greece said on Monday.

The data showed the deficit at 1.32 billion euros from 772 million euros in March 2016. Tourism revenues fell slightly to 203 million euros from 221 million in the same month a year earlier.

The Bank of Greece said the total value of exported goods and services grew by 23.2 percent but imports fell more in absolute terms.

In 2016 as a whole, Greece posted a current account deficit of 1.1 billion euros versus a surplus of 206 million in 2015 as a result of a lower services balance surplus.