Greece’s current account deficit shrank year-on-year over the January-August 2025 period, reflecting improvements in all sub-accounts, mainly in the goods, primary income, and services accounts, the Bank of Greece (BoG) announced on Tuesday.

Tourism and travel revenues for the eight-month period reached €16.7 billion, with August again the “golden month” for the sector, bringing in €4.52 billion in remittances.

Over the January-August 2025 period, the current account deficit decreased by €2.1 billion compared to the same period last year, falling to €6.6 billion.

The surplus of the services balance grew on account of an improvement in the travel balance, which was largely offset by a deterioration of the transport and the other services balances. Compared with August 2024, non-residents’ arrivals rose by 8.1% and the relevant receipts grew by 10.5%.

According to the BoG, the goods deficit shrank as imports fell by more than exports in absolute terms. At current prices, exports of goods decreased by 5.4% (-0.2% at constant prices), while imports of goods decreased by 4.6% (-3.1% at constant prices). Non-oil exports of goods at current prices grew by 3.4%, while the corresponding imports increased by 2.7% (6.1% and 2.1% at constant prices, respectively).

The surplus of the services balance grew on account of an improvement in the travel balance, more than half of which was offset by a deterioration in the transport and other services balances. Non-residents’ arrivals rose by 4.1% year-on-year and the relevant receipts grew by 12.0%.