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  

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Greece Current Account Chart

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

Greece Facts

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

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