Current account deficit significantly down in Jan-May 2023

Greece’s current account deficit fell by 431.3 million euros, year-on-year, to stand at 1.6 billion euros, the Bank of Greece announced on Friday.

The country’s central bank, in a monthly report, said a reduction in the goods deficit is accounted for by a larger decrease in imports than exports in absolute terms. Exports decreased by 15.9 percent at current prices (-4.6 percent at constant prices) and imports fell by 12.8 percent at current prices (-2.9 percent at constant prices). More specifically, non-oil exports of goods edged up by 0.7 percent at current prices (-1.9 percent at constant prices), whereas non-oil imports of goods dropped by 4.0 percent (-5.0 percent at constant prices).