October 22, 2018 / 8:18 AM / a month ago

Greek current account surplus shrinks in August, tourism revenues rise

    ATHENS, Oct 22 (Reuters) - Greece's current account balance
showed a smaller surplus in August compared to the same month a
year earlier on the back of a wider trade deficit and a
deterioration in the primary income balance, the Bank of Greece
said on Monday.
    Central bank data showed the surplus shrank to 1.564 billion
euros ($1.80 billion) from a surplus of 1.826 billion euros in
August 2017. Tourism revenues increased to 3.6 billion euros
from 3.55 billion in the same month a year earlier.
    "In July the current account showed a surplus of 1.6 billion
euros, down by 262 million year-on-year, mainly due to a
deterioration in the primary income account, which was
attributable to lower receipts from dividends, interest and
profits," the Bank of Greece said.
    It said the trade gap rose slightly despite a pickup in
export growth.
    In January to August, Greece's current account showed a
deficit of 910 million euros, up by 857 million euros
year-on-year as the trade deficit widened and the primary income
account surplus shrank.
    In 2017 as a whole, Greece's current account deficit reached
1.5 billion euros, down by 418 million year-on-year.

**************************************************************
CURRENT ACCOUNT (bln euros)      2018      2017

January                          -0.586    -0.340
February                         -1.294    -1.030
March                            -0.956    -1.412
April                            -1.344    -0.506
May                               0.191    -0.658
June                              0.210     0.737
July                              1.577     1.545
August                            1.564     1.826
-------------------------------------------------
* revised
source: Bank of Greece    


($1 = 0.8675 euros)

 (Reporting by George Georgiopoulos)
  
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