Bank of Greece reports November 2025 current account deficit narrowed to EUR 2.1 billion

The Bank of Greece published balance of payments data for November 2025 showing a year-on-year narrowing in the current account deficit to EUR 2.1 billion and a smaller deficit over January to November 2025 of EUR 10.3 billion. The combined current and capital account deficit, used as a proxy for external financing needs, fell to EUR 946.2 million in November and to EUR 8.5 billion for the first eleven months of the year. The November improvement reflected a stronger secondary income balance and better goods and services balances, partly offset by a wider primary income deficit. Goods imports fell 5.5% at current prices while exports rose 1.5%, and the services surplus increased as non-resident arrivals grew 9.7% and travel receipts 27.7% versus November 2024. For January to November, the goods deficit narrowed as imports declined more than exports and the travel balance strengthened, while the capital account moved to a EUR 1.7 billion surplus, supported by higher general government net receipts including the sixth Recovery and Resilience Facility tranche recorded in November. In the financial account, direct investment showed net flows of EUR 183.7 million in residents’ external liabilities in November and EUR 11.0 billion over January to November, while portfolio liabilities rose on higher non-resident holdings of Greek bonds and Treasury bills, EUR 2.1 billion in November and EUR 13.7 billion over January to November. Greece’s reserve assets stood at EUR 20.1 billion at end-November 2025, compared with EUR 14.6 billion a year earlier. Balance of payments statistics for December 2025 are scheduled for release on 20 February 2026.