The country's external balance deteriorated in January - April 2026 as its deficit increased by EUR 1 billion compared to the corresponding period of 2025.

This expansion of the deficit in the current account to EUR 8.3 billion, according to the data of the Bank of Greece, reflects the increase in the primary income deficit and the reduction of surplus in the secondary income balance. On the contrary, the balance of services surplus was widened thanks to the tourist balance as tourist arrivals increased by 27.1% and corresponding revenues by 36.9% to 2.7 billion euros.

More specifically, the deficit in the balance of goods shrunk, as the increase in exports exceeded that of imports. At current prices, exports rose by 12.0% (4.6% at constant prices) and imports by 3.6% (0.1% at constant prices).

In particular, at current prices, exports of fuel-free goods were increased by 5.3%, while the corresponding imports increased by 5.4% (2.2% and 4.5% at constant prices respectively).

The primary income balance deficit recorded an increase over the period January-April 2025, mainly due to the reduction of almost half of net receipts from other primary incomes. The surplus of the secondary income balance was limited in the same period as in the corresponding period of 2025, mainly due to a reduction in net receipts in other sectors than the general government. The surplus of the capital balance shrank compared to the first quarter of 2025, and was €358.5 million.

As a result of the above , the overall balance of current transactions and capital deficit , which corresponds to the needs of the economy for financing from abroad , increased compared to the corresponding period of 2025 and was €8.0 billion.

In the category of direct investment, residents' claims against abroad recorded flows of 1.5 billion. Euros and liabilities of residents to abroad, corresponding to direct investments of non-residents in Greece, recorded flows of EUR 4.4 billion.

In portfolio investment, the increase in the population's demands on the outside is mainly due to the rise of 2.3 billion. EUR 892.3 million for the placement of residents in foreign bonds and interest notes and to a lesser extent an increase of EUR 892.3 million for the placement of non-residents. The increase in their obligations is mainly due to a rise of 4.9 billion. EUR 965.0 million of non-resident placements in Greek bonds and interest notes, which was partially offset by the reduction of non-residents’ holdings in shares in domestic companies.

In the category of other investments, the increase in the demand of residents over abroad is due to an increase of 1.8 billion. EUR 1.4 billion in loans to non-residents, but also in the statistical adjustment linked to the issue of banknotes (EUR 1.4 billion), despite a reduction of EUR 1.9 billion. euro of placements of residents in deposits and deposits abroad. The rise in their obligations is primarily attributed to the rise of 5.3 billion. euro of non-resident deposits and deposits in Greece (including the TARGET account) and secondary to the statistical adjustment related to the issuance of banknotes (EUR 1.4 billion), which were compensated to a certain extent by the 2.1 billion reduction. euro of their loan obligations to non-residents.

Source: RES-SME