Current Account in Greece

Greece Current Account | Economic News & Forecasts

Greece - Current Account

Economic activity likely remained subdued in the second quarter, following a weaker-than-expected expansion in Q1. Although industrial production rebounded in June, the upturn was minimal and its average growth in the quarter remained below that of Q1. Moreover, despite falling unemployment, retail sales shrank in both April and May, while consumer confidence remained deep in negative territory in Q2, boding ill for private consumption. The third quarter, however, seems to have got off to a more positive start. In July, economic sentiment hit its highest level since March 2008, amid the electoral victory of the conservative New Democracy party, and the manufacturing PMI reached a three-month high. Meanwhile, late in the same month, Parliament approved a major tax relief package for companies and households. Although officials have stated that reaching the ambitious primary surplus target of 3.5% of GDP this year is still feasible, risks have increased amid the previous and current government’s stimulus measures.

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 Yield1.990.76 %Sep 04
Exchange Rate1.100.65 %Sep 04
Stock Market854-1.46 %Sep 04

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