The current account deficit in the first four months of 2014 was estimated to be 2.2 billion euros, significantly less that during the same four months in 2013, when the deficit was found to be 3.39 billion euros.
In April 2014 the current account deficit was estimated to be 1.16 billion euros, which marked an increase from the 1.15 billion euro deficit in April 2013.
The Bank of Greece has attributed this development to recent improvement of the services, income and current transactions balances, which off set the increased trade deficit. During the same four-month period in 2014, the trade deficit increased to 6.2 billion euros (from 6.06 billion euros in 2013).
The trade deficit increased by 220 million euros came as a result of reduced exports, while the services surplus marked an impressive increase due increased revenue from transport services. Meanwhile, the income deficit shrunk by 249 million euros due to the reduction of interest payments.
