Current Account in Greece

Greece Current Account | Economic News & Forecasts

Greece - Current Account

Following consistent criticism over the reliability of its data, the Hellenic Statistical Authority (ELSTAT) has ceased issuing flash GDP estimates as it reviews ways to improve the quality of its releases. However, incoming monthly data suggests that the economy likely grew again in Q2, albeit at a weak pace. While the labor market is slowly improving, austerity measures and high unemployment are weighing on household consumption. Other indicators point to an uneven performance in recent months: Industrial production growth slowed in June, but exports expanded at a double-digit pace. On a positive note, Fitch Ratings raised Greece’s credit rating from CCC to B- on the back of reduced political risks and continuing GDP growth in August.

Greece - Current Account Data

2012  2013  2014  2015  2016  
Current Account (% of GDP)-3.8  -2.0  -1.6  0.1  -0.6  

Sample Report

5 years of economic forecasts for more than 30 economic indicators.

Download

Greece Current Account Chart


Greece Current Account
Note: Current account balance as % of GDP.
Source: Greece Central Bank and FocusEconomics calculations.

Greece Facts

ValueChangeDate
Bond Yield5.27-0.12 %Sep 18
Exchange Rate1.20-0.08 %Sep 18
Stock Market761-1.99 %Sep 18

Sample Report

Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.

Download

Start Your Free Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Economic News

  • Greece: PMI records best reading since August 2008

    September 1, 2017

    The IHS Markit manufacturing Purchasing Managers’ Index (PMI) climbed in August, suggesting the fastest rate of growth in the manufacturing sector in nine years.

    Read more

  • Greece: Recovery continues at modest pace in Q2

    September 1, 2017

    A provisional dataset released on 1 September by the Hellenic Statistical Authority (EL.STAT) revealed that the economy performed slightly better than projected in the second quarter, as the expected slowdown in activity failed to come to fruition.

    Read more

  • Greece: Unemployment rate inches down in May

    August 10, 2017

    The number of unemployed fell by 5,490 in May compared with a decrease of 13,000 in April, according to the Hellenic Statistical Authority (EL.STAT). The unemployment rate inched down from April’s revised 21.8% (previously reported: 21.7%) to 21.7%, a multi-year low.

    Read more

  • Greece: Industrial production growth moderates in June

    August 8, 2017

    Industrial production expanded a working-day-adjusted 1.6% in June compared to the same month of last year, which was significantly below May’s revised 6.3% growth (previously reported: +5.4% year-on-year).

    Read more

  • Greece: PMI steady in July

    August 2, 2017

    The IHS Markit manufacturing Purchasing Managers’ Index (PMI) was table in July, resting at June’s nearly one year high of 50.5.

    Read more

Search form