Despite the government’s goal of changing the productive model of the Greek economy and to enhance its extroversion, the data on the balance current trading The Bank of Greece (BoG) for January do not argue, with the main problem being primarily located in the secondary income balance and the balance of goods and, to a lesser extent, in the service balance.
Although surplus remained, the current account balance in January decreased by EUR 784.3 million and stood at € 1 billion, with the deficit of the balance of goods expanding, as the increase in imports exceeded exports. At current prices, exports increased by 1.8% (2.4% at constant prices) and imports by 4.8% (4.1% at constant prices).
In particular, at current prices, exports of without fuel increased 6.3% (7% at constant prices), while the corresponding imports increased by 9.2% (8.3% at fixed prices).
The surplus of the service balance was reduced in January 2025, due to the deterioration of the balance of other services and to a lesser extent, the travel services balance, while the transport balance recorded marginal improvement. Compared to the corresponding month of 2024, non -resident of travelers increased by 11.4% and the relevant proceeds by 7.5%.
The surplus of the primary income balance was limited compared to January 2024, reflecting the reduction of net interest, dividends and profits, as well as other primary income. The surplus of the secondary income balance was shrinking against January 2024, as a result of the recording of net payments, against net revenue, in the general government sector, as well as the reduction of net receipts in other general government.
Capital balance
In January 2025, the capital balance recorded a surplus, compared to a deficit in the corresponding month of 2024, and stood at € 150.8 million, reflecting the registration of net proceeds, against net payments, other than general government, sectors of the economy.
Total accounting of current transaction and capital
In January 2025, the surplus of the total current account and capital balance (which corresponds to the needs of the economy for funding from abroad) decreased by EUR 466.5 million and stood at € 1.2 billion.
Financial Trade Balance
In January 2025, in the category of direct investment, the claims of residents against foreign flows of € 99.3 million and the liabilities of residents to foreign, which correspond to direct investment of non -residents in Greece, flows of € 448.9 million.
In portfolio investments, the increase in residents ‘claims against abroad mainly reflects the 240m -euro rise of their placements in bonds and bold bills abroad and, to a lesser extent, the increase of € 178.9 million of residents’ equity. The increase in their liabilities is almost entirely due to the increase of € 3.5 billion of non -residents in Greek bonds and loud bills.
In the category of other investments, there was an increase in residents’ requirements against abroad, due to the statistical adjustment linked to the issuance of banknotes (by 681 million euros) and the increase of 643.5 million euros of loans to non -residents, which was partially offset by the reduction of 103 million euros.
The decline in their liabilities mainly reflects a € 4.4 billion decline in non -residents and repos in Greece (including the Target account) and, to a lesser extent, the 410.8 million euro reduction of their loan liabilities to non -residents, who were compensated by the statistics. euro).
At the end of January 2025, the country’s foreign exchange records stood at € 15.3 billion, compared to € 12.2 billion at the end of January 2024.