Greek 2012 current account gap narrows to lowest since euro entry

Tue Feb 19, 2013 4:13am EST

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ATHENS, Feb 19 (Reuters) - Greece's current account deficit
narrowed by 73 percent in 2012 to its lowest level since the
country joined the euro, helped by falling imports and lower
interest payments on its sovereign debt, the Bank of Greece
 said on Tuesday.
    The current account balance showed a deficit of 5.58 billion
euros ($7.45 billion) from 20.63 billion euros in 2011. This
means it shrank to 2.9 percent of GDP from 9.9 percent the
previous year, its lowest level since at least 1999.
    Tourism remained the country's biggest money earner, despite
dropping 4.6 percent in 2012 to 10.02 billion euros.
    KEY FIGURES (bln euros)     2012      2011
    December                  -0.534     -2.143
    November                  -0.850     -2.284
    October                   -0.684     -1.469
    September                 +0.775     -1.069
    August                    +1.601     -0.103
    July                      +0.642     -0.880
    June                      -0.274     -1.598
    Full-year                 -5.584    -20.634
    source: Bank of Greece
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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