Greece’s current account deficit widened in May compared to the same month in 2020, as imports outpaced exports, data from the Bank of Greece showed on Wednesday.
The gap reached 1.4 billion euros ($1.65 billion) from 0.9 billion euros in the same month a year earlier.
Tourism revenues rose to 168 million euros in May, when Greece opened its borders to foreign travellers after many months of lockdown, from 44 million in May last year.
In the first five months of the year, Greece’s current account gap widened by 534 million euros to 6.2 billion euros compared to the same period a year earlier, the Bank of Greece said.
The central bank said Greece’s foreign exchange reserves stood at 9.2 billion euros at the end of May, compared to 8.7 billion in the same month in 2020.
Source: Reuters (Reporting by Angeliki Koutantou; Editing by Andrew Cawthorne and Catherine Evans)