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Friday, January 24, 2014

Greece's Current Account - January-November 2013

Below is my usual table:

(in BEUR)


January-November
November









2013 2012
2013 2012
Revenue from abroad





Exports 20,7 20,0
1,8 2,0

Services (e. g. tourism) 26,2 26,0
1,5 1,5

Other income 3,2 3,5
0,3 0,4

Current transfers 6,9 4,8
0,4 0,3


---- ----
---- ----

Total revenue from abroad 57,0 54,3
4,0 4,2







Expenses abroad





Imports 36,6 38,7
3,2 3,4

Services (e. g. tourism) 10,0 11,3
0,9 1,0

Other expense (e. g. interest) 5,9 5,1
0,5 0,3

Current transfers 3,0 3,4
0,2 0,2


---- ----
---- ----

Total expenses abroad 55,5 58,5
4,8 4,9














Net foreign deficit (current account) 1,5 -4,2
-0,8 -0,7

Essentially, similar comments as in my previous anaylsis can be made. One addendum, though:

In November, non-oil imports increased 4,4% while non-oil exports declined 7,8%. Falling exports with increasing imports would be a terrible trend, if it were a trend. More likely that it was just a one-off month.

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