Tourism revenues recovered in the first nine months of January ATHENS 9.84

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An increase in tourism income is recorded in the nine months from January to September, so that the total amount reaches 54.4% of the income of the corresponding period of 2019.

According to data announced by the Bank of Greece, in the first nine months of this year, the arrivals of non-resident travelers increased by 89.0% and the corresponding receipts by 139.3% compared to the same period of 2020, accounting for 43% and 54.4, 2019% of arrivals and receipts of XNUMX, respectively.

Developments in the tourism sector have contributed to the reduction of the current account deficit from 2.8 billion euros compared to the corresponding period of 2020 to 5.6 billion euros.

On the contrary, the country’s trade balance deficit increased, as a larger increase in imports than exports was recorded.

Concretely, exports and imports increased respectively by 32.8% and 30.1% at current prices (at constant prices the respective growth rates were 14.2% and 10.6%). Exports and imports of goods other than fuels increased by 25.7% and 25.2% respectively at current prices (at constant rates the respective growth rates were 20.6% and 23.2%).

The primary income balance was in excess of the deficit for the corresponding period of 2020, mainly due to the reduction in net payments of interest, dividends and profits, while the surplus of the secondary income balance increased in due to the increase in net government expenditure. Income. The overall current account and capital deficit – which corresponds to the economy’s external financing need – fell from 2020 billion euros to 7.0 billion euros in 2.4.
In the category of direct investment, residents ‘claims on foreigners increased by EUR 837 million and residents’ debts to foreigners, which correspond to direct investments by non-residents in Greece, increased by 3.8 Billions of Euro’s.

In portfolio investments, the increase in residents’ claims on foreign countries is mainly due to the increase in their holdings of bonds and bonds abroad by 17.9 billion euros. The increase in their commitments is due to the increase in investments by non-residents in Greek government bonds and interest certificates of 2.6 billion euros and in shares of Greek companies by 1.4 billion euros. euros.

Source: RES-EAP


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