Current Account in Greece

Greece Current Account | Economic News & Forecasts

Greece - Current Account

Growth jumped to an over one-decade high in the third quarter, putting the country on track to record its strongest expansion since 2007 this year. A strong rise in inventories drove Q3’s acceleration, while other economic dynamics were more lackluster. Household spending growth was stable in the quarter, while government consumption and fixed investment both contracted. Although the economy has come a long way since the height of the crisis—as demonstrated by the unemployment rate, which hit a seven-year low in Q3—the recovery remains modest considering the depth of the country’s recession. Available data for the fourth quarter suggests that the economy’s momentum remains in place, reflected by the manufacturing PMI which hit a six-month high in November. Meanwhile, the Eurogroup greenlighted the 2019 budget at the start of December, the country’s first budget without the backdrop of a bailout program in over eight years. Notably, the budget excludes a planned pension cut that was supposed to take place in January.

Greece - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-2.0  -1.6  -0.2  -1.1  -0.8  

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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 Yield4.870.76 %Jan 16
Exchange Rate1.140.65 %Jan 16
Stock Market623-1.46 %Jan 16

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