Greece’s current account balance turned to a surplus in May from a deficit in the previous year, mostly due to the improved balance of goods and services, figures from the Bank of Greece showed Tuesday.
The current account balance showed a surplus of EUR 407.2 million in May versus a deficit of EUR 299.3 million in the corresponding month last year.
The goods and services trade surplus grew markedly to EUR 725.4 million in May from only EUR 89.8 million a year ago.
The goods trade deficit narrowed to EUR 984.9 million in May from EUR 1.5 billion a year earlier. The surplus on services trade rose to EUR 1.7 billion from EUR 1.6 billion.
The shortfall on primary income balance came in at EUR 195.6 million in May, but down from EUR 286.5 million last year. Meanwhile, secondary income deficit increased slightly to EUR 122.5 million from EUR 102.6 million.
At the same time, the capital account balance turned to a surplus of EUR 11.6 million in May from a deficit of EUR 12.4 million from the preceding year.
Similarly, the financial account balance showed a surplus of EUR 161.7 million, after posting a deficit of EUR 273.8 million last year.
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