Revenues from tourism increased by 78% in the nine months of January – September

Increased by 103.9% shows the inbound tourist traffic in the nine months of January – September compared to the corresponding period last year.

As a result, according to data from the Bank of Greece, collections recorded an increase by 78.3% compared to the corresponding period in 2021, representing 87.9% and 96.9% of their respective levels in 2019.

Despite the positive developments in the Travel Balance, the current account deficit increased by 4.7 billion euros compared to the corresponding period of 2021 and amounted to 10.8 billion euros.

The increase in the goods balance deficit is due to the increase in imports with rate faster than that of exports. Exports increased by 41.0% at current prices (5.9% at constant prices) and imports by 46.9% at current prices (20.8% at constant prices). In particular, at current prices exports and imports of non-fuel goods increased by 26.6% and 28.9% respectively (9.5% and 20.0% at constant prices).

The capital balance surplus narrowed compared to the same period in 2021 and stood at €2.5 billion, due to the decline in net receipts of the general government sector.

The deficit of the total balance of current transactions and capital (which corresponds to the needs of the economy for financing from abroad) ( increased by 5.4 billion euros compared to the corresponding period of 2021 and amounted to 8.3 billion euros.

In the Balance of Financial Transactions in the category of direct investments, the claims of residents towards abroad increased by 1.0 billion euros and the liabilities of residents towards abroad, which correspond to direct investments of non-residents in Greece, recorded an increase of 5, 3 billion euros.

In portfolio investments, the increase in residents’ claims against abroad is almost entirely due to the increase of 9.6 billion euros in placements of residents in foreign bonds and interest-bearing bills. The increase in their liabilities is almost entirely due to the increase of 564.0 million euros in the placements of non-residents in Greek bonds and interest-bearing bills.

In the category of other investments, the decrease in the claims of residents vis-a-vis abroad is due to the decrease of 5.8 billion euros in placements of residents in deposits and repos abroad, which was partially offset by the statistical adjustment linked to the issuance of banknotes ( by 3.7 billion euros). The increase in their liabilities mainly reflects the rise by 9.7 billion euros of non-resident placements in deposits and repos in Greece (including the TARGET account) and the statistical adjustment linked to the issuance of banknotes (by 3.7 billion euros). euros), which were partially offset by a reduction of 4.8 billion euros in their loan obligations to non-residents.

RES-EMP

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