Travel receipts exceeded 4.5 billion euros in August, according to the balance of payments published by the Bank of Greece.

The increase compared to August 2024 reaches 10.5%.

In August 2025, the current account surplus increased compared to the corresponding month in 2024, due primarily to the improvement in the balance of goods and primary income and, secondarily, the balance of services, while the balance of secondary income worsened.

In the period January-August 2025, the current account deficit narrowed compared to the same period in 2024, due to the improvement of all individual balances, and mainly the balances of goods, primary incomes and services.
Current Account Balance

In August 2025, the current account surplus more than doubled (increased by €783.2 million) compared to the corresponding month in 2024 to €1.1 billion.

The deficit in the balance of goods narrowed as the decline in imports outstripped the decline in exports. At current prices, exports of goods fell by 9.4% (-4.3% at constant prices) and imports of goods by 12.8% (-11.3% at constant prices). Exports of non-fuel goods decreased by 5.0% at current prices (-1.2% at constant prices), while imports of non-fuel goods decreased by 2.8% (-3.0% at constant prices).

The services surplus widened, driven by an improvement in the travel services balance, which was largely offset by a deterioration in the transport and other services balances. Compared to August 2024, non-resident traveler arrivals increased by 8.1% and related receipts by 10.5%.

The primary income balance deficit narrowed from the corresponding month in 2024, reflecting the reduction in net payments for interest, dividends and profits. The deficit of the secondary income balance increased compared to August 2024, as a result of the increase in net payments to the non-general government sectors of the economy.

In the January-August 2025 period, the current account deficit decreased by 2.1 billion euros compared to the corresponding period in 2024 and amounted to 6.6 billion euros.

The deficit in the balance of goods narrowed, as the decline in imports exceeded that of exports in absolute terms. At current prices, exports of goods fell by 5.4% (-0.2% at constant prices) and imports of goods by 4.6% (-3.1% at constant prices). At current prices exports of non-fuel goods increased by 3.4%, while corresponding imports rose by 2.7% (up 6.1% and 2.1% at constant prices respectively).

The services surplus widened, driven by an improvement in the travel services balance, which was more than half offset by a deterioration in the transport and other services balances. Compared to the January-August 2024 period, non-resident traveler arrivals increased by 4.1% and related receipts by 12.0%.

The primary income balance deficit narrowed compared to the corresponding period in 2024, mainly as a result of lower net payments for interest, dividends and profits. The surplus of the secondary income balance recorded a small increase compared to the corresponding period in 2024, due to the decrease in net payments of the general government, which was almost entirely offset by the decrease in net receipts in the other non-general government sectors of the economy.

Capital Balance

In August 2025, the capital balance showed a deficit compared to a surplus in the corresponding month of 2024 and stood at €653.5 million, reflecting the recording of net payments against net receipts in the non-general government sectors of the economy.

In the period January-August 2025, the capital balance showed a surplus of 609.8 million euros, compared to a deficit in the corresponding period of 2024, due to the increase in net receipts of the general government.

Total Current and Capital Balance

In August 2025, the surplus of the total current and capital balance (which corresponds to the economy’s needs for foreign financing) increased compared to the corresponding month of 2024 and amounted to 443.1 million euros.

In the period January-August 2025, the deficit of the total current and capital balance shrank compared to the corresponding period of 2024 and amounted to 6.0 billion euros.

Balance of Financial Transactions

In August 2025, in the category of direct investments, residents’ foreign claims recorded net flows of 157.9 million euros and residents’ foreign liabilities net flows of 4.8 billion euros, which include the exchange of the shares of Metlen Energy & Metals PLC for the acquisition of the common denominators shares of Metlen Energy & Metals S.A.

In portfolio investments, the increase in residents’ foreign claims mainly reflects the €2.6 billion rise in residents’ holdings of non-resident corporate shares, also due to the above-mentioned exchange, and, to a lesser extent, the €819 million increase in their holdings of foreign bonds and bonds.

The decrease in their liabilities is due to the EUR 1.9 billion decline in non-residents’ placements in domestic corporate shares, also due to the above-mentioned swap, which was partially offset by the EUR 471.0 million increase in non-residents’ placements in Greek bonds and bonds.

In the category of other investments, a decrease was recorded in the claims of residents vis-a-vis abroad, mainly due to the decline of 579.3 million euros in the placements of residents in deposits and repos abroad and, to a lesser extent, the decrease of 161.5 million euros in the granting of loans to non-residents by domestic financial institutions, which were largely offset by the statistical adjustment linked to the issuance of banknotes (by EUR 666.0 million).

The increase in their liabilities comes mainly from the EUR 676.0 million rise in non-residents’ placements in deposits and repos at home, as well as the statistical adjustment linked to the issuance of banknotes (by EUR 666.0 million), which were partially offset by the EUR 366.2 million decrease in residents’ loan liabilities to non-residents.

In the period January-August 2025, in the category of direct investments, the claims of residents vis-a-vis abroad recorded net flows of 2.3 billion euros and the liabilities of residents vis-a-vis abroad, which correspond to direct investments of non-residents in Greece, recorded net flows of 8.1 billion euros.

In portfolio investment, the rise in residents’ claims against abroad was driven by a €4.4 billion expansion in residents’ holdings of non-resident corporate shares, which was roughly half offset by a €2.7 billion decline in residents’ holdings of foreign bonds and notes. The increase in their liabilities mainly reflects the €8.4 billion increase in non-residents’ positions in Greek bonds and interest-bearing bills.

In the category of other investments, the increase in residents’ foreign claims is mainly due to the statistical adjustment for the issuance of banknotes (by €4.3 billion) and, to a lesser extent, to the €440.5 million increase in loans to non-residents, which were partially offset by the €450.8 million decrease in residents’ placements in deposits and repos abroad.

The reduction in their liabilities is linked to the EUR 5.9 billion decline in non-resident placements in deposits and repos in Greece (including the TARGET account), which was largely offset by the statistical adjustment for banknote issuance (by EUR 4.3 billion).

At the end of August 2025, the country’s foreign exchange reserves stood at 17.4 billion euros, compared to 13.6 billion euros at the end of August 2024.

See balance of payments details here