Greece’s current account surplus decreased in August mainly due to the deterioration in the secondary income account and the rise in goods deficit, the Bank of Greece reported Friday.
The current account surplus declined EUR 952.5 million from the last year to EUR 449.1 million in August from EUR 1.40 billion in the same period last year.
As the increase in imports was larger than exports growth, the goods deficit rose to EUR 3.0 billion from EUR 2.42 billion a year ago. Meanwhile, the services trade showed a surplus of EUR 4.2 billion, up from EUR 3.3 billion in the last year.
The primary income account deficit grew from the last year to EUR 558.9 million, owing mainly to higher net interest, dividend and profit payments.
The secondary income account registered a deficit of EUR 189.4 million, against a surplus of EUR 893.8 million in the same month a year earlier, due to lower receipts by the general government.
During January to August, the current account deficit increased by EUR 4.2 billion annually to EUR 10.0 billion.
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