The Greek current account deficit narrowed in October from last year largely due to a rise in receipts in the services account, the Bank of Greece said Monday.
The current account deficit decreased notably by EUR 118 million annually to EUR 199 million in October.
The trade deficit increased by EUR 209 million year-on-year, owing to the higher net import bill for oil and other goods excluding ships.
Meanwhile, the surplus of the services balance widened by EUR 199 million year-on-year, primarily on account of improvements in the transport and the “other” services balances.
During January to October, the current account balance showed a surplus of EUR 3.6 billion, compared with EUR 2.1 billion over the same period in 2013.
In October, the capital transfers balance showed a small deficit as in October last year. In the January-October period, the surplus of the capital transfers balance came to EUR 1.8 billion, compared with EUR 2.8 billion over the same period in 2013.
The material has been provided by InstaForex Company – www.instaforex.com