The current account deficit widened by 1.3 billion euros in November 2021 compared to the corresponding month of 2020 and amounted to 2.5 billion euros, according to the Bank of Greece.
As he explains, the increase in the goods deficit is due to the increase in imports, which was higher than in exports. The increase in total exports and imports by 58.7% and 70.4% respectively reflects the rise in prices, mainly of fuels. At constant prices, the growth rates of exports and imports were 19.8% and 36.3% respectively. In particular, exports of non-fuel goods increased by 44.2% at current prices (31.8% at constant prices) and imports of non-fuel goods increased by 42.0% at current prices (33.7% at constant prices). ).
The increase in the services surplus was mainly due to the improvement in the travel balance and, to a lesser extent, the transport balance.
The primary income deficit increased compared to the corresponding month of 2020, mainly due to the increase in net payments for interest, dividends and profits. The secondary income balance deficit also increased slightly.
In the period January-November 2021, the current account deficit was reduced by 1.4 billion euros compared to the corresponding period of 2020 and amounted to 8.9 billion euros. The increase in the goods deficit is due to the larger increase in imports compared to exports in absolute terms. More specifically, exports increased by 36.4% at current prices (14.2% at constant prices) and imports by 35.6% at current prices (13.3% at constant prices). Exports of non-fuel goods increased by 27.5% at current prices (21.2% at constant prices) and imports of non-fuel goods increased by 27.1% at current prices (24.1% at constant prices).
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