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Greece's current account gap narrows slightly in November thanks to tourism

BY Reuters | ECONOMIC | 01/20/25 04:56 AM EST

ATHENS, Jan 20 (Reuters) - Greece's current account deficit shrank slightly in November compared to the same month in 2023, helped by robust tourism revenues, the Bank of Greece said on Monday.

Central bank data showed the current account deficit was 3.15 million euros ($3.25 million) in November, down from a deficit of 3.18 billion euros in the same month a year earlier.

Tourism revenues rose by nearly 45% year-on-year to 0.62 billion euros, with foreign arrivals up by 23.6%. This largely offset the impact of imports of goods outpacing exports.

However, in the 11 months to November, Greece recorded a current account deficit of 11.5 billion euros, up from a deficit of 11 billion euros in the same period last year. ($1 = 0.9703 euros) (Reporting by Lefteris Papadimas Editing by Gareth Jones)

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