A € 2.1 billion decrease in the current account deficit in January-May 2025, compared to the corresponding period of 2024 and stood at € 6.4 billion, according to Bank of Greece data.

The reduction is mainly due to the improvement of the balance of goods and, to a lesser extent, of primary and secondary income balances, while the surplus of the service balance was reduced.

Concerning May 2025, the current account balance showed a small surplus, compared to a deficit in the corresponding month of 2024, due to the improvement of all individual balances and especially the balance of goods.

Current Trade Balance

More specifically, in May 2025, the current account balance showed a small surplus compared to May 2024 – recording an improvement of 2.5 billion euros – and stood at € 196.5 million.

The deficit of the balance of goods was shrinking as imports decrease and a marginal increase in exports. At current prices, exports increased by 0.3% (7.8% at constant prices) and imports decreased by 14.3% (-12.3% at constant prices). In particular, at current prices exports of without fuel increased by 11.0% (14.7% at constant prices), while imports of without fuel increased by 7.1% (6.5% at constant prices).

The surplus of the service balance has risen due to the improvement of all individual balances, mainly the travel balance and, to a lesser extent, balances of other services and transport. Compared to May 2024, no travelers’ arrivals decreased by 2.7% and the receipts increased by 17.7%.

The deficit of the primary income balance was reduced compared to the corresponding month of 2024, reflecting the rise of net earnings from other primary income, which was partially offset by the increase in net payments for interest, dividends and profits. The secondary income balance recorded a surplus, against a deficit in May 2024, as a result of the record of net receipts against net payments in the general government, due to the fifth installment disbursement in the form of grants by the Recovery and Recovery Facility (Recovery).

During January-May 2025, the current account deficit decreased by EUR 2.1 billion compared to the corresponding period of 2024 and stood at € 6.4 billion.

The deficit of the balance of goods declined due to the greater reduction in imports over exports. At current prices, exports shrunk by 4.2% (0.8% increase at constant prices) and imports by 5.6% (-4.2% at constant prices). In particular, at current prices exports of without fuel increased by 4.6% and the corresponding imports rose 2.5% (6.7% and 1.7% at constant prices respectively).

The surplus of the service balance has declined due to the deterioration of the transport balance, which was offset to some extent by the improvement of the travel balance. Compared to the first five months of 2024, non -resident travelers increased by 2.1% and the relevant receipts by 12.7%.

The deficit of the primary income balance was significantly reduced, due to the increase in net proceeds from other primary income and, to a lesser extent, due to the reduction of net interest payments, dividends and profits. The surplus of the secondary income balance was expanded to the corresponding period of 2024, due to the nihilism of almost net payments in the general government sector, although net receipts in other, except the General Government, have declined.

Capital balance

In May 2025, the capital balance recorded a surplus, compared to a deficit in the corresponding month of 2024, and stood at € 768.7 million, primarily reflecting the registration of net receipts against almost zero net payments in the general government.

During January-May 2025, the capital balance showed a surplus, compared to a deficit in the first five months of 2024, and stood at € 1.2 billion, on the one hand, due to the increase in net receipts in the general government and on the other hand, due to the reduction of net payments.

Total accounting of current transaction and capital

In May 2025, the total current account and capital balance (which corresponds to the needs of the economy for funding from abroad) showed a surplus, against a deficit in the corresponding month of 2024, and stood at € 965.2 million.

During January-May 2025, the deficit of the total current account and capital balance was reduced by € 4.0 billion compared to the corresponding period of 2024 and stood at € 5.2 billion.

Financial Trade Balance

In May 2025, in the category of direct investment, residents ‘demands on foreign records of € 158.2 million and residents’ liabilities to foreign net flows of EUR 353.4 million.

In portfolio investments, the increase in residents ‘requirements against abroad reflects the rise of residents’ shares in non -residents. Their liabilities are due to the rise of non -residents by EUR 310.0 million in domestic business shares and by € 243.0 million in Greek bonds and intensive bills.

In the category of other investments, residents’ claims were raised against abroad, mainly due to the increase of € 1.1 billion of residents in deposits and repos abroad and, to a lesser extent, due to the statistical adjustment linked to the issuance of banknotes (by € 534.0 million) and € 28 million. residents from domestic financial institutions. Their liabilities rise is linked to the € 1.8 billion increase of their loan liabilities to non -residents (linked to the disbursement by the RRF loan), as well as to the statistical adjustment linked to the issuance of banknotes (by € 534.0 million), up to EUR 534.0 million, up to EUR 534.0 million, up to € 1,5 million), up to € 1,5 million. Residents in deposits and repos in Greece (including the Target account).

In the period January-May 2025, in the category of direct investment, residents ‘demands on foreign have recorded net flows of € 1.7 billion and residents’ liabilities to foreign, which corresponds to immediate investments in Greece, recorded net flows of € 2.1 billion.

Portfolio investment, the reduction of residents’ claims against abroad is mainly due to a € 2.6 billion retreat of residents in bonds and foreign bills abroad, which was partially offset by the rise of 1.2 billion euros in residents. Increasing their liabilities mainly reflects the € 5.9 billion rise of non -residents in Greek bonds and loud bills.

In the category of other investments, the increase in residents’ claims against abroad is mainly due to the statistical adjustment linked to the issuance of banknotes (by € 2.6 billion) and, to a lesser extent, to a 527.1 million euro rise of residents in deposits and repos abroad and 462.0 million euros. Their reduction in their liabilities is mainly linked to a € 3.2 billion drop in non -residents and repos in Greece (including the Target account), which was partially offset by the statistical adjustment of banknotes (by € 2.6 billion).

At the end of May 2025, the country’s foreign exchange records stood at € 15.8 billion, compared to € 13.4 billion at the end of May 2024.