April 20, 2017 / 8:20 AM / 5 months ago

Greek current account deficit widens in February, tourism revenue drops

    ATHENS, April 20 (Reuters) - Greece's current account
deficit widened in February 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
Thursday.
    The data showed the deficit reached 937 million euros 
($1.01 billion) from 828 million euros in February 2016. Tourism
revenues fell slightly to 145 million euros from 150 million in
the same month a year earlier.
    "The deficit of the balance of goods increased year-on-year,
mainly as a result of a rise in the deficit of the oil balance,
owing to higher international oil prices," the Bank of Greece
said.
    It said the total value of exported goods and services grew
11.6 percent but imports increased 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.

***********************************************************
CURRENT ACCOUNT (bln euros)       2017         2016
    January                      -0.271       -0.771
    February                     -0.937       -0.828
    -----------------------------------------------
    * revised
    source: Bank of Greece
    
($1 = 0.9298 euros)

 (Reporting by George Georgiopoulos)
  

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