Greece Current Account Logs Deficit

(RTTNews) - Greece's current account registered a deficit in January, data from the Bank of Greece showed Monday.

The current account showed a deficit of EUR 1.3 billion in January compared with a surplus of EUR 873.4 million.

The goods deficit fell to EUR 2.8 billion from EUR 2.9 billion as imports fell more than exports in absolute terms. At the same time, the services surplus rose to EUR 328.3 million mainly due to an improvement in the travel balance.

On the other hand, the surplus of the primary income account declined to EUR 109.5 million from EUR 261.8 million in the prior year. The surplus of the secondary income account plunged to EUR 1.1 billion from EUR 3.3 billion last year.

In January, the capital account recorded a deficit of EUR 156.2 million, against a surplus in last year, owing to a shift from net receipts to net payments in the other sectors of the economy excluding general government.