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Greece Current Account Surplus Up In September

Greece`s current account surplus rose to EUR 963.7 million from EUR 895.2 million in the same period last year. The current account surplus in September increased from the same month a year ago, helped by higher travel receipts, data released by the Bank of Greece showed on Tuesday.The improvement in the travel balance was the most significant positive development of this month, the central bank said, thanks to tourist receipts. The surplus figure widened to EUR 2.01 billion from EUR 1.710 billion last year. Tourist receipts surged 17.3 percent from last year, reflecting a 17.5 percent increase in visitor arrivals.

The current account balance for the January to September period swung to surplus of EUR 2.56 billion from a deficit of EUR 2.806 billion last year. Merchandise trade deficit shrunk significantly to EUR 12.89 billion from EUR 15.65 billion. Services surplus grew to EUR 14.22 billion from EUR 12.92 billion in the same period a year ago. Travel balance rose to EUR 10.70 billion surplus from EUR 9.359 billion surplus. Travel spending in Greece by non-residents grew by 14.4 percent year-on-year, mirroring a 15.2 percent rise in visitor arrivals.

Source : Capital Market

Shubhlaxmi Harish

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