In July 2025, the current account surplus was more than doubled (an increase of EUR 728.5 million) compared to the corresponding month of 2024 and stood at € 938.4 million, the Bank of Greece announced today. In the seven months of 2025, the current account deficit decreased by € 1.4 billion compared to the corresponding period of 2024 and stood at € 6.7 billion.
The contribution of tourism was significant, as tourist revenue recorded a historic record in July in the seven months. In particular, according to the BoG, revenue in July reached € 4.5 billion versus € 3.9 billion in 2024. In total the revenue was € 12.18 billion against € 10.83 billion in the corresponding seven months of 2024.
Compared to July 2024, non -resident travelers increased by 6.4% and the relevant receipts by 15.0%. Compared to the period January-July 2024, non-resident travelers increased by 2.6% and the relevant receipts by 12.5%.
Details of the BoG:
Current Trade Balance
In July 2025, the current account surplus was more than doubled (an increase of EUR 728.5 million) compared to the corresponding month of 2024 and stood at € 938.4 million.
The balance of the balance of goods increased, as the decrease in exports exceeded the reduction in imports. At current prices, exports of goods decreased by 5.2% (0.6% increase at constant prices) and imports of goods by 2.2% (-1.2% at constant prices). Exports of goods without fuel increased by 5.8% to current prices (9.2% at fixed prices), while imports without fuel increased by 2.1% (1.8% at fixed prices).
The surplus of the service balance was expanded due to the improvement of the travel services balance, while the balances of transport and other services recorded deterioration. Compared to July 2024, non -resident travelers increased by 6.4% and the relevant receipts by 15.0%.
The deficit of the primary income balance decreased by about half compared to the corresponding month of 2024, reflecting the reduction of net interest payments, dividends and profits. The deficit of the secondary income balance was deteriorated by July 2024 as a result of increasing net payments in all areas of the economy.
During January-July 2025, the current account deficit decreased by € 1.4 billion compared to the corresponding period of 2024 and stood at € 6.7 billion.
The deficit of the balance of goods was limited, as the reduction in imports exceeded that of exports in absolute terms. At current prices, exports of goods decreased by 4.9% (0.3% increase at constant prices) and imports of goods by 3.6% (-2.1% at constant prices). At current prices, exports of without fuel increased by 4.5%, while the corresponding imports recorded a 3.4% increase (7.0% and 2.7% at constant prices respectively).
The surplus of the service balance was expanded due to the improvement of the travel services balance, which was offset about half of the deterioration of the transport balance. Compared to the period January-July 2024, non-resident travelers increased by 2.6% and the relevant receipts by 12.5%.
The deficit of the primary income balance decreased compared to the corresponding period of 2024, mainly as a result of the lowest net payments for interest, dividends and profits. The surplus of the secondary income balance rose to the corresponding period of 2024, due to the reduction of the net payments of the General Government, which was significantly offset by the reduction of net proceeds in other, other than the General Government.
Capital balance
In July 2025, the surplus of the capital balance increased compared to the corresponding month of 2024 and stood at EUR 84.5 million, reflecting the increase in net receipts to the other, except the General Government, sectors of the economy.
In January-July 2025, the capital balance showed a surplus of 1.3 billion euros, compared to a deficit in the corresponding period of 2024, mainly due to the increase in net revenue of the General Government, as well as the reduction of net payments, outside the general government.
Total accounting of current transaction and capital
In July 2025, the surplus of the total current account and capital balance (which corresponds to the needs of the economy for funding from abroad) increased compared to the corresponding month of 2024 and stood at € 1.0 billion.
During January-July 2025, the deficit of the total current account and capital balance was shrunk compared to the corresponding period of 2024 and stood at € 5.4 billion.
Financial Trade Balance
In July 2025, in the category of direct investment, residents ‘demands from foreign recorded net flows of EUR 360.4 million and residents’ liabilities to external net flow of € 431.4 million.
In portfolio investment, the reduction of residents’ requirements against abroad mainly reflects the 1.5 billion euro recession of their placements in bonds and lounge bills abroad, which was partially offset by the rise of residents in non -residents. The increase in their liabilities is mainly due to the rise of non -residents in Greek bonds and bold bills by 471.0m euros, as well as their placements in domestic business shares by € 171.0 million.
In the category of other investments, residents’ requirements were increased by foreign, due to the statistical adjustment linked to the issuance of banknotes (by EUR 678.0 million), the increase of 412.5 million euros of loans to non -residents by domestic financial institutions, as well as the increase of € 41 million. deposits and repos abroad. Their reduction in their liabilities mainly derive from a € 1.7 billion drop in non -residents and repos locations at home and from a € 631.9 million reduction in non -resident loan liabilities, which were partially offset by the statistical adjustment linked to the issuance of bankographies.
Portfolio investments, the reduction of residents’ claims against abroad is due to a 3.5 billion euro drop in residents in bonds and bold bills abroad, which was offset to some extent from the increase of 1.8 billion euros of residents. The increase in their liabilities mainly reflects the € 7.9 billion rise of non -resident positions in Greek bonds and loud bills, as well as the increase of € 1.6 billion of non -residents’ shares in domestic business shares.
In the category of other investments, the increase in residents’ claims against abroad is mainly due to the statistical adjustment for the issuance of banknotes (by € 3.6 billion), to an increase of EUR 602.0 million of lending to non -residents and, to a lesser extent, to the increase of 128.5 million euros. Their reduction in their liabilities is linked to a € 6.6 billion retreat of non -residents in deposits and repos in Greece (including the Target account) and, to a lesser extent, with a reduction of EUR 566.9 million of the loan liabilities to non -residents, who were offset by the statistics. euro).
At the end of July 2025, the country’s foreign exchange records stood at € 15.8 billion, compared to € 13.5 billion at the end of July 2024.
Note: Statistics for the payment balance of August 2025 will be announced on October 21, 2025.
You can see details of the BoG’s here.
Source: Skai
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