The Bank of Greece published balance of payments data showing that Greece’s current account deficit widened in May 2026 and over the first five months of the year. The May deficit rose by EUR 956.6 million year on year to EUR 960.2 million, while the January-May deficit increased by EUR 1.6 billion to EUR 8.9 billion. In both periods, the main driver was a deterioration in the secondary and primary income accounts, which more than offset improvements in goods and services. The goods deficit narrowed as export growth outpaced imports, and the services surplus increased mainly because of a stronger travel balance. In May, non-resident tourist arrivals rose by 12.2% and receipts by 10.9%, while for January to May arrivals increased by 20.9% and receipts by 25.8%. The capital account recorded a EUR 13.6 million deficit in May and a EUR 344.9 million surplus in January-May, leaving the combined current and capital account at a EUR 973.9 million deficit in May and an EUR 8.6 billion deficit for the first five months. On the financial account, direct investment liabilities totaled EUR 1.7 billion in May, including the share capital increase of PPC S.A., and EUR 6.1 billion in January-May. Reserve assets stood at EUR 20.9 billion at end-May 2026, up from EUR 15.8 billion a year earlier. Balance of payments data for June 2026 will be released on 20 August 2026.
Bank of Greece2026-07-21
Bank of Greece reports May current account deficit widened to EUR 960.2 million, January-May gap reached EUR 8.9 billion
The Bank of Greece said Greece’s current account deficit widened to EUR 960.2 million in May 2026 and to EUR 8.9 billion in January-May. The increase was driven by weaker primary and secondary income balances, despite narrower goods deficits and a stronger services surplus led by travel. The combined current and capital account deficit reached EUR 8.6 billion in the first five months of the year.