The Bank of Greece published balance of payments data showing a mixed external position. In March 2026, Greece’s current account deficit narrowed by EUR 855.2 million year on year to EUR 2.3 billion, mainly because the goods deficit shrank and the services surplus increased. For the first quarter of 2026, however, the current account deficit widened by EUR 2.0 billion to EUR 7.0 billion, as deterioration in secondary income and, to a lesser extent, primary income more than offset improvements in goods and services. The monthly improvement reflected exports rising faster than imports and a stronger travel balance, with non-resident arrivals up 38.1% and travel receipts up 55.6% from a year earlier. In the first quarter, the goods deficit still narrowed and the services surplus widened, again helped by travel, with arrivals up 38.3% and receipts up 64.3%, but the transport surplus weakened, other services moved into deficit, and the secondary income surplus narrowed. The capital account posted a EUR 132.9 million surplus in March but a EUR 130.1 million deficit in the first quarter, leaving the combined current and capital account deficit at EUR 2.2 billion in March and EUR 7.1 billion for the quarter. At end-March 2026, reserve assets stood at EUR 21.4 billion, up from EUR 15.7 billion a year earlier. The Bank of Greece said balance of payments data for April 2026 will be released on 19 June 2026.
Bank of Greece2026-05-22
Bank of Greece reports March current account deficit narrowed to EUR 2.3 billion, first quarter gap widened to EUR 7.0 billion
The Bank of Greece said Greece’s current account deficit narrowed to EUR 2.3 billion in March 2026, driven mainly by a smaller goods deficit and a stronger services surplus. For the first quarter, the deficit widened to EUR 7.0 billion because weaker secondary and primary income more than offset improvements in goods and services. Reserve assets stood at EUR 21.4 billion at end-March 2026.