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.
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