Tourist receipts recorded a big rise in the eight months, reaching 16.71 billion euros for the first time, up from 14.92 billion euros in the eight months to 2024. In August alone, for the first time, receipts were above the 4.5 billion euro mark (at 4.52 billion euros), up from 4.1 billion euros last year.

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, according to Bank of Greece data for August and the eight months to 2025.

The BoE said that compared to the same 8-month period last year, non-resident traveler arrivals increased by 4.1% and related receipts by 12%. Compared to August 2024, non-resident traveler arrivals increased by 8.1% and associated receipts by 10.5%.

Current account balance

In August 2025, the current account surplus more than doubled (an increase of €783.2 million) compared to the same month in 2024, reaching €1.1 billion.

The goods deficit narrowed as the decline in imports exceeded 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 goods excluding fuel fell by 5.0% at current prices (-1.2% at constant prices), while imports of goods excluding fuel fell by 2.8% (-3.0% at constant prices).

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

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

In the January-August 2025 period, the current account deficit decreased by EUR 2.1 billion compared with the corresponding period of 2024, to EUR 6.6 billion.

The goods deficit 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 goods excluding fuel increased by 3.4%, while imports rose by 2.7% (6.1% and 2.1% at constant prices respectively).

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

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

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Capital account

In August 2025, the capital account recorded a deficit compared to a surplus in the corresponding month of 2024, amounting to EUR 653.5 million, reflecting the recording of net payments against net receipts in the other, non-general government, sectors of the economy.

In the January-August 2025 period, the capital account recorded a surplus of EUR 609.8 million, compared to a deficit in the corresponding period of 2024, due to an increase in net receipts in general government.

Total current and capital account
In August 2025, the surplus of the overall current and capital account (which corresponds to the economy’s external financing needs) increased compared to the corresponding month of 2024, reaching 443.1 million euros.

In the period January-August 2025, the deficit of the overall current and capital account contracted compared with the corresponding period of 2024 and stood at EUR 6.0 billion.

Financial transactions balance

In August 2025, in the direct investment category, residents’ foreign assets recorded net flows of EUR 157.9 million and residents’ foreign liabilities recorded net flows of EUR 4.8 billion, which includes the exchange of Metlen Energy & Metals PLC shares for the acquisition of Metlen Energy & Metals SA ordinary shares.

In portfolio investments, the increase in residents’ foreign assets mainly reflects the EUR 2.6 billion increase in residents’ holdings of shares in non-resident companies, also due to the exchange as mentioned earlier, and, to a lesser extent, the EUR 819 million increase in their holdings of foreign bonds and notes. The decrease in their liabilities is due to the EUR 1.9 billion decrease in non-residents’ holdings of shares of domestic companies, also due to the aforementioned exchange, which was partly offset by the EUR 471.0 million increase in non-residents’ holdings of Greek bonds and bills.

The decrease in their liabilities is due to the EUR 1.9 billion decrease in non-residents’ holdings of shares of domestic companies, also due to the aforementioned exchange, which was partly offset by the EUR 471.0 million increase in non-residents’ holdings of Greek bonds and bills.

The other investment category recorded a decrease in residents’ claims on the rest of the world, mainly due to a decrease of EUR 579.3 million in residents’ placements of deposits and repos abroad and, to a lesser extent, a decrease of EUR 161.5 million in the granting of loans to non-residents by domestic financial institutions, which were largely offset by the statistical adjustment related to the issuance of banknotes (by EUR 666.0 million). The increase in liabilities was mainly driven by a EUR 676.0 million increase in non-residents’ domestic deposit and repo placements, as well as by the statistical adjustment linked to banknote issuance (by EUR 666.0 million), which was partly offset by a EUR 366.2 million decrease in residents’ loan liabilities to non-residents.

In the January-August 2025 period, in the direct investment category, residents’ claims on foreign residents recorded net flows of EUR 2.3 billion, and residents’ liabilities to foreign residents, corresponding to direct investments of non-residents in Greece, recorded net flows of EUR 8.1 billion.

In portfolio investment, the increase in residents’ claims on foreign residents was due to a EUR 4.4 billion increase in residents’ holdings of shares in non-resident corporations, which was roughly half offset by a EUR 2.7 billion decline in residents’ holdings of foreign bonds and bills. The increase in their liabilities mainly reflects the EUR 8.4 billion increase in non-resident holdings of Greek bonds and bills.

In the other investment category, the increase in residents’ claims on the rest of the world was mainly due to the statistical adjustment for banknote issuance (by EUR 4.3 billion) and, to a lesser extent, to the EUR 440.5 million increase in lending to non-residents, partly offset by the EUR 450.8 million decrease in residents’ holdings of foreign deposits and repos. The decrease in their liabilities is linked to the EUR 5.9 billion decline in non-resident deposit and repo placements 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 EUR 17.4 billion, compared with EUR 13.6 billion at the end of August 2024.