Greece's current account swung to a surplus in August from deficit last year, helped mainly by an improvement in merchandise trade, data released by the Bank of Greece showed Monday.
The current account showed a surplus of EUR1.6 billion compared to a deficit of EUR102.8 million in August 2011, recording positive balance for the second successive month.
The deficit in the goods trade account narrowed to EUR1.5 billion in August from EUR2.17 billion a year earlier. At the same time, the surplus in the services account advanced to EUR2.99 billion from EUR2.83 billion.
The balance in the income account was a deficit of EUR92.6 million during the month, sharply lower than the EUR588.7 million shortfall recorded last year. Meanwhile, the current transfers account turned to a surplus of EUR203 million from last year's EUR169.7 million shortfall.
In the January-August 2012 period, the current account deficit contracted sharply by 66.5 percent year-on-year to EUR4.59 billion, data showed.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.