Greece Current Account to GDP

Greece recorded a Current Account deficit of 7.70 percent of the countrys Gross Domestic Product in 2012. Current Account to GDP in Greece is reported by the Eurostat. From 1980 until 2012, Greece Current Account to GDP averaged -5.9 Percent reaching an all time high of -0.1 Percent in December of 1994 and a record low of -18.0 Percent in December of 2008. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page provides - Greece Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-17

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-7.70 -11.70 -0.10 -18.00 -6.12 | 2013/12 1980 - 2012 Percent Yearly

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Greece Current Account to GDP
LIST BY COUNTRY

Trade Last Previous Highest Lowest Forecast Unit
Current Account -709.00 2014-02-15 -295.00 2774.50 -4957.30 -914.50 2014-03-31 EUR Million [+]
Balance of Trade -1981.40 2014-02-15 -1623.70 -1157.30 -4209.20 -1671.19 2014-03-31 EUR Million [+]
Exports 2049.60 2014-02-15 2128.80 2767.10 691.90 2062.57 2014-03-31 EUR Million [+]
Imports 4031.00 2014-02-15 3752.40 6198.80 1919.00 3730.07 2014-03-31 EUR Million [+]
Current Account to GDP -7.70 2012-12-31 -11.70 -0.10 -18.00 -6.12 2013-12-31 Percent [+]
Capital Flows -290.80 2014-01-15 309.50 4767.10 -2505.80 500.01 2014-02-28 EUR Million [+]
External Debt 417069.00 2013-12-31 418880.50 437025.00 142217.00 412406.98 2014-03-31 EUR Million [+]
Remittances 97.00 2013-08-15 128.00 512.00 77.00 130.84 2013-12-31 EUR Million [+]
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Current Account to GDP | Notes
The Current account balance as a percent of GDP provides an indication on the level of international competiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.


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In January of 2014, Greek seasonally adjusted jobless rate fell to 26.7 down from a revised 27.2 percent in the previous month, but up from 26.5 percent a year earlier. Revised figures showed the unemployment fell for the fourth straight month.
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Greek trade deficit increased for the second consecutive month to a preliminary estimate of € -1.98 billion, due to a 7 percent drop in exports. A year earlier, the trade deficit reached € 1.76 billion.
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In November of 2013, Greek jobless rate rose to a new record high at 28 percent from a revised 27.7 percent in October and 26.3 percent last year. Unemployment in Greece is more than twice the euro zone's record-high of 12.1 percent in the same period.
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In October of 2013, Greece jobless rate slightly rose to a new record 27.8 percent, up from a revised 27.7 percent in September. A year ago, unemployment was recorded at 26.1 percent.
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The seasonally adjusted jobless rate in September of 2013 was 27.4 percent compared to 26.0 percent in September of 2012 and 27.3 percent in August.
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In October of 2013, Greece trade deficit increased to € 1.84 billion, from €1.54 billion in September, as exports fell while imports rose for the third consecutive month.
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In August, Greek jobless rate was 27.3 percent compared to 25.5 percent in August 2012 and 27.3 percent in July 2013. Youth unemployment grew to 60.6 percent.
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