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Athens Macedonian News Agency: News in English, 12-08-21
CONTENTS
[01] BoG discloses balance of payments report
[01] BoG discloses balance of payments report
AMNA--The Bank of Greece (BoG) on Monday announced that the current
account balance showed a deficit of €274 million, down by €1.3
billion or 82.8 percent year-on-year.
The trade deficit narrowed by €356 million, as a result of a €375
million decrease in the trade deficit excluding oil and ships, as well as
a €200 million decline in the net import bill for ships. By contrast,
the net oil import bill increased by €219 million or 40.7 percent,
partly offsetting this improvement. The trade deficit excluding oil and
ships shrank due to the considerable reduction of the import bill by
€368 million or 16.2 percent, whereas export receipts rose by a mere
0.7 percent.amna
The services surplus contracted by €69 million owing to lower net
travel receipts. Over the same period there was only a small increase in
net transport receipts and a small decline in net payments for "other"
services. In more detail, compared with June 2011, travel spending in
Greece by non-residents declined by 7.1 percent, while travel spending
abroad by residents of Greece increased by 10.8 percent; as a result,
net receipts fell by €116 million. In the same month, non-residents'
arrivals dropped by 6.4 percent, according to data from the Bank of
Greece's border survey. Gross transport receipts (chiefly from merchant
shipping) fell by 7.4 percent and the corresponding payments decreased
by 17.2 percent, resulting in net receipts rising by €18 million.
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