Finance
Greece's current account deficit narrows sharply in October thanks to tourism
Published by Global Banking & Finance Review®
Posted on December 20, 2024
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 20, 2024
1 min readLast updated: January 27, 2026
Greece's current account deficit narrowed significantly in October, aided by a 20% rise in tourism revenue and EU funds, despite a 10-month deficit increase.
(Reuters) - Greece's current account deficit narrowed sharply in October from a year earlier to 383 million euros ($397.59 million), helped by robust tourism revenue and a further inflow of EU funds, data from the Bank of Greece showed on Friday.
The current account shortfall eased from a deficit of 1.21 billion euros in the same month a year ago.
Tourism revenue rose by nearly 20% year-on-year to 2.17 billion euros with foreign arrivals up by 8.6%. This largely offset the impact of imports of goods outpacing exports.
However, in the 10 months to October, Greece recorded a current account deficit of 8 billion euros, up from a deficit of 7.8 billion euros in the same period last year.
($1 = 0.9633 euros)
(Reporting by Athina Karolidou in Gdansk and Angeliki Koutantou in Athens; Editing by Susan Fenton)
The article discusses Greece's current account deficit reduction in October, driven by tourism revenue and EU funds.
Tourism revenue rose by nearly 20%, helping to narrow the deficit significantly.
Greece recorded a 10-month deficit of 8 billion euros, up from 7.8 billion euros last year.
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