ATHENS – [ANA-MPA]
Greece’s current account balance deteriorated in 2024 as its deficit increased to 15.1 billion euros from 13.9 billion euros in 2023.
The increase in the deficit by approximately 7%, according to data from the Bank of Greece, is attributed to the deterioration mainly of the goods balance and, secondarily, of the primary income balance, which was offset to some extent by the improvement in the services and secondary income balances.
In 2024, the deficit of the total current account and capital account (which corresponds to the economy’s needs for financing from abroad) increased by 3.9 billion euros to 15.1 billion euros compared to 2023.
The total foreign direct investment attracted by the country in 2024 reached 6 billion euros, while foreign investors placed 2 billion euros on the Athens Stock Exchange in shares of Greek companies.
More specifically, the deficit in the goods balance widened, as a decrease in exports was recorded with a simultaneous increase in imports. At current prices, exports decreased by 2.8% (2.4% at constant prices), while imports increased by 1.5% (2.8% at constant prices). However, at current prices, exports of goods excluding fuel increased by 1.0% and the corresponding imports increased by 3.9% (1.2% and 4.0% at constant prices, respectively).
The surplus in the services balance widened, due primarily to the improvement in the travel balance and secondarily in the other services balance, which was partially offset by the deterioration in the transport balance. Compared to 2023, non-resident tourist arrivals rose by 9.8% and related receipts by 5.4%, reaching 21.8 billion euros.
