Travel receipts increased by 12% in the first seven months of 2026 (January–July), reaching €13.518 billion, compared with €12.07 billion in the corresponding period of 2025.

According to data from the Bank of Greece, receipts increased by 7.2% in July, reaching €4.722 billion from €4.406 billion in July last year, despite tourist arrivals declining by 3.1% year-on-year.

Current Account Balance

In July 2026, the current account surplus decreased significantly compared with the same month in 2025, standing at €218.5 million, despite the improvement recorded in the overall balance of goods and services.

The deficit in the goods balance widened, due to imports increasing more than exports in absolute terms. At current prices, goods exports increased by 16.1% (0.5% at constant prices), while goods imports increased by 12.8% (4.6% at constant prices). More specifically, at current prices, goods exports excluding fuel increased by 9.4% (1.2% at constant prices), while corresponding imports increased by 1.9% (unchanged at constant prices).

The surplus in the services balance increased almost exclusively due to an improvement in the travel balance, although a slight improvement was also recorded in the transport and other services balances. Compared with July 2025, non-resident traveller arrivals decreased by 3.1%, while corresponding receipts increased by 7.2%.

The deficit in the primary income balance widened compared with the corresponding month of 2025, mainly reflecting an increase in net payments for interest, dividends and profits. The deficit in the secondary income balance also increased compared with July 2025, as a result of higher net payments, mainly in the general government sector and, to a lesser extent, in other sectors of the economy outside general government.

In the January–July 2026 period, the current account deficit increased by approximately €1.5 billion compared with the corresponding period of 2025, reaching €9.3 billion. However, the overall balance of goods and services improved.

The deficit in the goods balance narrowed, as the increase in exports exceeded that of imports. At current prices, goods exports increased by 16.1% (4.9% at constant prices), while goods imports increased by 5.8% (0.6% at constant prices). More specifically, at current prices, goods exports excluding fuel increased by 8.1% and corresponding imports by 3.7% (3.3% and 2.5% at constant prices, respectively).

The surplus in the services balance widened due to an improvement in the travel services balance, which was partly offset by a deterioration, mainly in the balance of other services and, to a lesser extent, in the transport balance. Compared with the corresponding period of 2025, non-resident traveller arrivals increased by 8.6% and corresponding receipts by 12.0%.

The deficit in the primary income balance increased compared with the corresponding period of 2025, mainly reflecting an approximately 50% decline in net receipts from other primary income, which was partly offset by a decrease in net payments for interest, dividends and profits. The secondary income balance recorded a deficit, compared with a surplus in the corresponding period of 2025, mainly due to lower net receipts in other sectors of the economy outside general government, and, to a lesser extent, higher net payments in the general government sector.

Capital Account Balance

In July 2026, the capital account surplus fell by approximately half compared with the corresponding month of 2025, standing at €37.1 million, reflecting a decrease in net receipts in other sectors of the economy outside general government.

In the January–July 2026 period, the capital account surplus contracted compared with the corresponding period of 2025, due to a decrease in net receipts by the general government.

Overall Current and Capital Account Balance

In July 2026, the surplus in the overall current and capital account balance—which corresponds to the economy’s external financing needs—recorded a significant decrease compared with the corresponding month of 2025, standing at €255.6 million.

In the January–July 2026 period, the deficit in the overall current and capital account balance increased compared with the corresponding period of 2025, reaching €9.0 billion.

Financial Account Balance

In July 2026, under direct investment, residents’ claims on non-residents recorded net flows of €166.5 million, while residents’ liabilities to non-residents, corresponding to non-residents’ direct investment in Greece, recorded net flows of €768.4 million.

Under portfolio investment, the decrease in residents’ claims on non-residents mainly reflects a €2.5 billion reduction in residents’ holdings of foreign bonds and Treasury bills, despite a €159.3 million increase in holdings of shares in non-resident companies. The increase in their liabilities was mainly due to a €1.3 billion increase in non-residents’ holdings of shares in resident companies, partly offset by a €389.0 million decrease in non-residents’ holdings of Greek bonds and Treasury bills.

Under other investment, there was a slight increase in residents’ claims on non-residents, mainly due to the statistical adjustment associated with the issuance of banknotes (€530.0 million), which was almost entirely offset by a €492.0 million decrease in residents’ holdings of deposits and repos abroad. The decrease in residents’ liabilities mainly resulted from a €4.5 billion reduction in non-residents’ holdings of deposits and repos in Greece (including the TARGET account), which was partly offset by the statistical adjustment associated with the issuance of banknotes (€530.0 million).

In the January–July 2026 period, under direct investment, residents’ claims on non-residents recorded net flows of €2.0 billion, while residents’ liabilities to non-residents recorded net flows of €7.6 billion.

Under portfolio investment, the increase in residents’ claims on non-residents was mainly due to a €1.9 billion increase in residents’ holdings of shares in non-resident companies and, to a lesser extent, a €553.0 million increase in residents’ holdings of foreign bonds and Treasury bills. The increase in residents’ liabilities mainly reflects an €8.7 billion increase in non-residents’ holdings of Greek bonds and Treasury bills, as well as a €2.8 billion increase in non-residents’ holdings of shares in domestic companies.

Under other investment, the increase in residents’ claims on non-residents was due to a €3.0 billion increase in loans granted to non-residents and the statistical adjustment for the issuance of banknotes (€2.9 billion), which were partly offset by a €1.2 billion decrease in residents’ holdings of deposits and repos abroad. The decrease in residents’ liabilities was mainly linked to a €9.1 billion reduction in loans granted to residents by financial institutions abroad. This was largely offset by a €4.4 billion increase in non-residents’ holdings of deposits and repos in Greece (including the TARGET account) and, to a lesser extent, by the statistical adjustment for the issuance of banknotes (€2.9 billion).

At the end of July 2026, the country’s foreign exchange reserves stood at €19.5 billion, compared with €15.8 billion at the end of July 2025.