Greece Current Account Gap Narrows In February

(RTTNews) - Greece's current account deficit decreased in February from a year ago, mainly due to an improvement in the balance of goods, data from the Bank of Greece showed on Thursday.

The current account surplus dropped to EUR 2.5 billion in February from EUR 3.0 billion in the same period last year.

The visible trade deficit also narrowed to EUR 2.5 billion from EUR 3.0 billion last year, reflecting a drop in imports and a parallel small increase in exports. 

The surplus in the services balance declined to EUR 311.1 million from EUR 396.0 million a year ago.

The deficit of the primary income account decreased to EUR 112.1 million from EUR 231.2 million.

Meanwhile, the secondary income deficit widened to EUR 184.1 million from EUR 155.9 million in the previous year.

In February, the capital account balance turned to a surplus of EUR 209.9 million from a deficit of EUR 149.5 million a year ago, while the financial account shortfall declined from EUR 3.0 billion to EUR 2.0 billion.