Bank of Greece reports Greece’s current account swung to EUR 1.3 billion deficit in January 2026

The Bank of Greece published balance of payments data showing that Greece’s current account recorded a EUR 1.3 billion deficit in January 2026, compared with a surplus a year earlier. The shift was mainly driven by a deterioration in the secondary income account and, to a lesser extent, the primary income account, while the goods and services balances improved. The goods deficit narrowed as imports fell more than exports in absolute terms, with exports down 10.6% at current prices (5.9% at constant prices) and imports down 7.5% (3.6% at constant prices). The services surplus increased, led by a stronger travel balance, with non-residents’ arrivals up 33.3% year on year and related receipts up 58.4%, while the transport balance deteriorated. The capital account moved to a EUR 156.2 million deficit (from a surplus), and the combined current and capital account swung to a EUR 1.4 billion deficit, a EUR 2.5 billion deterioration year on year. In the financial account, direct investment recorded EUR 2.2 billion in resident external liabilities, including UniCredit’s increased stake in Alpha Bank S.A.; non-residents increased holdings of Greek bonds and Treasury bills by EUR 4.2 billion, while residents reduced holdings of foreign bonds and Treasury bills by EUR 985.0 million. Reserve assets stood at EUR 22.5 billion at end-January 2026, up from EUR 15.3 billion a year earlier. The Bank of Greece indicated that balance of payments statistics for February 2026 will be released on 20 April 2026.