August 20, 2018 / 8:21 AM / 3 months ago

Greek current account surplus shrinks in June, tourism revenues rise

    ATHENS, Aug 20 (Reuters) - Greece's current account balance
showed a smaller surplus in June compared to the same month a
year earlier on the back of a wider trade deficit, the Bank of
Greece said on Monday.
    Central bank data showed the surplus fell to 210 million
euros ($240.18 million) from a surplus of 737 million euros in
June 2017. Tourism revenues increased to 2.33 billion euros from
2.007 billion in the same month a year earlier.
    "In June the current account ... (was) down by 527 million
euros year-on-year, as a result of a deterioration principally
in the balance of goods and to a lesser extent in the primary
income account," the Bank of Greece said.
    It said the trade gap rose by 535 million euros as imports
outstripped exports, mainly the result of a worsening in the oil
balance.
    In January to June, Greece's current account showed a
deficit of 3.8 billion euros, up by 555 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                  
             
----------------------------------------------
* revised
source: Bank of Greece 


($1 = 0.8744 euros)

 (Reporting by George Georgiopoulos)
  
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