August 21, 2017 / 8:26 AM / a year ago

Greek current account surplus shrinks in June, tourism revenues rise

    ATHENS, Aug 21 (Reuters) - Greece's current account surplus
shrank in June compared to the same month a year earlier due to
a wider trade gap and a deficit in the primary income balance,
the Bank of Greece said on Monday.
    The data showed the surplus at 842 million euros ($988.7
million) from 910 million euros in June 2016. Tourism revenues
rose to 2.047 billion euros from 1.79 billion in the same month
a year earlier.
    "The current account of the balance of payments showed a
surplus that was lower by 68 million euros than a year earlier,
primarily because the primary and secondary income accounts
turned to deficits from surpluses," the Bank of Greece said.
    To a large extent this was offset by a stronger surplus of
the services balance, the central bank said.
    "The rise in the surplus of the services balance by 221
million euros is solely attributable to an increase of 257
million in the surplus of the travel balance," it said.
    In June foreign arrivals and the corresponding revenues rose
by 13 and 14.2 percent respectively year-on-year, the central
bank said.
    In 2016 as a whole, Greece had 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
March                         -1.324   -0.772
April                         -0.462   -0.872
May                           -0.582   -0.457
June                          +0.842   +0.910 
* revised
source: Bank of Greece        

($1 = 0.8516 euros)

 (Reporting by George Georgiopoulos)
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