![Current Account Balance Deficit at €8.8 billion in 6-Month Period](https://www.ot.gr/wp-content/uploads/2021/10/eisag.jpg)
The deficit in the Greek current account balance recorded a new increase in the first half of 2024, raising concerns about the course of the Greek economy, according to official data from the Bank of Greece.
The deficit in the current account balance increased by €693.4 million compared to the same period in 2023, reaching €8.8 billion. However, in June 2024, the current account balance recorded a surplus of €270.8 million, contrasting with the deficit in the same month of 2023. This positive shift was largely driven by tourism which continued to act as the the driving force of the Greek economy.
Some key details
Goods Balance Deficit:
The deficit in the goods balance narrowed due to simultaneous increases in exports and decreases in imports.
In current prices, goods exports rose by 3.3% (or -2.0% in constant prices), while goods imports decreased by 1.4% (or -3.1% in constant prices).
Specifically, exports of goods excluding fuels decreased by 5.8% (or -9.2% in constant prices), while imports of goods excluding fuels declined by 1.5% (or -1.8% in constant prices).
Services Balance Surplus:
The surplus in the services balance improved primarily due to better performance in travel services and, to a lesser extent, transportation services.
Compared to June 2023, non-resident arrivals increased by 8.8%, and related receipts grew by 7.7%.
Primary Income Balance:
The deficit in the primary income balance decreased compared to the same month in 2023.
This reflects increased net receipts from other primary income and a simultaneous decrease in net payments for interest, dividends, and profits.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Eurostat: Inflation in Greece at 3% in July – Above EU Average](https://www.ot.gr/wp-content/uploads/2024/07/inflation-2048x1365-1-600x400.jpg)
Eurostat: Inflation in Greece at 3% in July – Above EU Average
The European Union’s (EU) annual inflation rate was 2.8% in July, compared to 2.6% in June, compared to last year when it stood at 6.1%
![Greece on Red Alert for More Violent Storms and Flooding](https://www.ot.gr/wp-content/uploads/2024/08/thunder-4963719_1280-4-600x393.jpg)
Greece on Red Alert for More Violent Storms and Flooding
The Hellenic National Meteorological Service (EMY) warns of rain, thunderstorms, hail, and lightning in many areas of Greece
![Greece’s Demographics to Drive Post-2027 Retirement Age Hike](https://www.ot.gr/wp-content/uploads/2024/08/pension-2048x1365-1-600x400.jpg)
Greece’s Demographics to Drive Post-2027 Retirement Age Hike
While the Greek government has promised not to change the retirement age until after 2027, studies show that the country's demographics issues may necessitate drastic measures soon after
![Greece Second in Informal Employment among Eurozone](https://www.ot.gr/wp-content/uploads/2022/06/2017-12-11T051546Z_1860451405_RC1315CA6460_RTRMADP_3_EUROZONE-EMPLOYMENT-600x411.jpg)
Greece Second in Informal Employment among Eurozone
High levels of informal employment place Greece and Portugal at the top, reflecting deep-rooted challenges in labor regulation
![Greece Tax Statements: Olympian-Level Tax Evasion Again Suspected](https://www.ot.gr/wp-content/uploads/2024/06/tax1-600x338.jpg)
Greece Tax Statements: Olympian-Level Tax Evasion Again Suspected
One in two self-employed professionals in the country declared, in tax statements, an average monthly Income in 2023 of …268 euros
![New ‘Greece 2.0’ Plan Task Force for RRF to Monitor Projects](https://www.ot.gr/wp-content/uploads/2023/11/oikonomia1-600x400.jpg)
New ‘Greece 2.0’ Plan Task Force for RRF to Monitor Projects
The unit is scheduled to hold weekly meetings and will be tasked to map out the progress of pending projects under the Recovery Fund
![Primary Surplus at €5.683 billion Jan.-Jul. 2024](https://www.ot.gr/wp-content/uploads/2024/01/oikonomia-1-600x347.jpg)
Primary Surplus at €5.683 billion Jan.-Jul. 2024
Greek state budget deficit for January-July 2024 amounted to €121 million, significantly lower than the target of €3.745 billion
![High Alert on Sat. for Wildfires Across Much of Greece](https://www.ot.gr/wp-content/uploads/2024/08/fotia3-600x400.jpg)
High Alert on Sat. for Wildfires Across Much of Greece
Two major blazes on the day in Kozani, Thesprotia prefectures
![Express Visa Plan – Influx of Turkish Tourists to Greek Isles](https://www.ot.gr/wp-content/uploads/2024/08/turk-600x375.jpg)
Express Visa Plan – Influx of Turkish Tourists to Greek Isles
According to the German media outlet Rheinische Post, this has negatively affected popular Turkish coastal destinations like Bodrum and Cecme, which are almost empty
![Revenues Up for Accommodation, Food Services Sectors in Q2 2024](https://www.ot.gr/wp-content/uploads/2024/08/shutterstock_2461128859-2048x1365-1-600x400.jpg)
Revenues Up for Accommodation, Food Services Sectors in Q2 2024
According to ELSTAT, revenues in the two sectors increased overall, but Mykonos and Santorini reported a steep decline