The current account deficit increased by 7.5 billion euros in the eleven months from January to November 2022 compared to the corresponding period in 2021, reaching 17.5 billion euros, an amount approaching 8.5% of the country’s GDP.

This development, according to Bank of Greece datareflects an increase in the trade deficit, which is associated with a larger increase in imports than export. Exports increased by 37.0% at current prices (4.2% at constant prices) and imports by 43.6% at current prices (18.8% at constant prices).

In particular, in current prices, exports and imports of non-fuel goods increased by 23.8% and 25.9%, respectively (7.3% and 17.4% in comparable prices). In contrast, the services surplus increased as the travel balance improved significantly.

In more detail, non-resident traveler arrivals increased by 90.3% and corresponding receipts by 68.5% compared to the corresponding period in 2021, representing 88.9% and 97.2% of their respective levels in 2019. Net transfer receipts increased by 7.5%. .

Finally, the balance of primary income showed a deficit versus surplus in the corresponding period of 2021, mainly due to a decrease in net receipts from other primary income. The balance of secondary income also showed a deficit versus surplus for the same period in 2021 due to accounting for net payments versus net receipts in the general government sector.

In the period January-November 2022, the total current account and capital deficit corresponding to the country’s needs for financing from abroad increased by 8.2 billion euros compared to the corresponding period in 2021 and amounted to 14.6 billion euros. Euro.

In the balance of financial transactions in the direct investment category, claims of residents abroad increased by 1.5 billion euros, while liabilities of residents abroad, which correspond to direct investments of non-residents in Greece, increased by 6 0.2 billion euros.