Current Account in Greece

Greece Current Account | Economic News & Forecasts

Greece - Current Account

The economy shifted to a lower gear in Q1. Household spending waned amid softer wage gains, while government expenditure contracted yet again. Net trade also dragged markedly on growth but, encouragingly, fixed investment rebounded solidly. Turning to Q2, activity seems to have remained somewhat subdued. Industrial production dipped again in April, and the manufacturing PMI fell from a near two-decade high in May. Moreover, economic sentiment averaged lower in April–May than in Q1 owing to lingering pessimism among consumers and more downbeat sentiment in the retail trade sector, boding ill for private consumption. In politics, the conservative New Democracy party is expected to win the 7 July general election. Although this implies a shift to market-friendly policies, which may provide a boost to business sentiment, the slow pace of the recovery is set to persist amid the economy’s structural weaknesses and government’s commitment to strict fiscal targets.

Greece - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-2.0  -1.6  -0.8  -1.7  -1.8  

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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 Yield3.060.76 %Jul 11
Exchange Rate1.130.65 %Jul 11
Stock Market863-1.46 %Jul 11

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