September 20, 2018 / 8:31 AM / a month ago

Greek current account surplus widens in July, tourism revenues up

    ATHENS, Sept 20 (Reuters) - Greece's current account balance
showed a slightly larger surplus in July compared to the same
month a year earlier on the back of a wider services surplus
that offset an increased trade deficit, the Bank of Greece said
on Thursday.
    Central bank data showed the surplus rose to 1.577 billion
euros ($1.84 billion) from a surplus of 1.545 billion euros in
July 2017. Tourism revenues increased to 3.38 billion euros from
2.95 billion in the same month a year earlier.
    "In July the services balance surplus increased by 469
million euros, due mainly to an improvement in the tourism
balance. Non-resident arrivals rose 7.7 percent compared to the
same month in 2017 and the respective revenues by 14.4 percent,"
the Bank of Greece said.
    It said the trade gap rose by 198 million euros to 1.7
billion as imports outstripped exports.
    In January to July, Greece's current account showed a
deficit of 2.2 billion euros, up by 524 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    
-------------------------------------------------
* revised
source: Bank of Greece        


($1 = 0.8548 euros)

 (Reporting by George Georgiopoulos)
  
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