Travel receipts in August were nearly €300m higher than in the same month of 2025, at €4.86bn, according to data from the Bank of Greece.
However, average receipts lagged behind that month, as arrivals of non-resident travellers increased by 13.4% while receipts rose by 6.5%.
The shortfall in average receipts is also apparent over the first eight months, when arrivals of non-resident travellers increased by 10.0% and receipts by 9.4%.
Travel receipts for the first eight months of 2026 totalled €18.2bn, €1.56bn higher than in 2025.
In detail:
In August 2026, the surplus on the current account increased by €533.0m compared with the same month of 2025, to €1.7bn, despite a slight deterioration in the overall balance of goods and services.
The deficit on the goods balance widened, as the increase in imports exceeded that in exports in absolute terms. At current prices, goods exports rose by 27.1% (+4.2% in volume terms), while goods imports increased by 18.8% (+6.6% in volume terms). More specifically, at current prices, goods exports excluding fuel rose by 14.8% (+5.7% in volume terms), while corresponding imports increased by 4.4% (+2.2% in volume terms).
The surplus on the services balance edged up, mainly because of an improvement in the travel balance and, to a lesser extent, the balance of other services, which was partly offset by a deterioration in the transport balance. Compared with August 2025, arrivals of non-resident travellers increased by 13.4% and receipts by 6.5%.
The deficit on the primary income balance narrowed significantly compared with the same month of 2025, mainly reflecting an increase in net receipts from other primary income.
The deficit on the secondary income balance widened compared with August 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.
In the January-August 2026 period, the current-account deficit increased by about €2.4bn compared with the same period of 2025, reaching €8.9bn. The overall balance of goods and services nevertheless improved.
The deficit on the goods balance narrowed, as exports increased more than imports. At current prices, goods exports rose by 17.3% (+4.9% in volume terms) and goods imports by 9.3% (+3.1% in volume terms). More specifically, at current prices, goods exports excluding fuel rose by 9.6% and corresponding imports by 4.1% (+4.2% and +2.7% in volume terms, respectively).
The surplus on the services balance widened thanks to an improvement in the travel services balance, which was partly offset by a deterioration in the transport and other services balances. Compared with the same period of 2025, arrivals of non-resident travellers increased by 10.0% and receipts by 9.4%.
The deficit on the primary income balance narrowed compared with the same period of 2025, mainly reflecting lower net payments for interest, dividends and profits. This was partly offset by a decrease in net receipts from other primary income.
The secondary income balance recorded a deficit, compared with a surplus in the same period of 2025. This was mainly due to a decline in net receipts in other sectors of the economy, and, to a lesser extent, an increase in net payments in the general government sector.
Capital account
In August 2026, the capital account recorded a surplus of €48.0m, compared with a deficit in the same month of 2025. This reflected net receipts rather than net payments in other sectors of the economy.
In the January-August 2026 period, the capital account surplus narrowed compared with the same period of 2025, as net receipts by general government declined, despite a decrease in net payments in other sectors of the economy.
Overall current and capital account balance
In August 2026, the surplus on the overall current and capital account balance—which corresponds to the economy’s financing needs from abroad—more than doubled compared with the same month of 2025, reaching €1.8bn.
In the January-August 2026 period, the deficit on the overall current and capital account balance increased compared with the same period of 2025, reaching €8.5bn.
Financial account
In August 2026, in the direct investment category, residents’ claims on the rest of the world recorded net flows of €231.8m, while residents’ liabilities to the rest of the world—which correspond to direct investment in Greece by non-residents—recorded net flows of €301.3m.
In portfolio investment, the increase in residents’ claims on the rest of the world mainly reflected an €882.0m rise in their holdings of foreign bonds and Treasury bills and, to a lesser extent, a €304.9m increase in their holdings of shares in non-resident companies.
The increase in residents’ liabilities was due to higher non-resident holdings of Greek bonds and Treasury bills (up €387.0m), as well as shares in domestic companies (up €372.0m).
In the other investment category, residents’ claims on the rest of the world increased, mainly owing to a €1.3bn rise in residents’ deposits and repos abroad and, to a lesser extent, the statistical adjustment related to banknote issuance (of €534.0m), as well as a €530.7m increase in loans to non-residents by domestic financial institutions.
The increase in residents’ liabilities was mainly due to a €893.0m rise in non-residents’ deposits and repos in Greece (including the TARGET account) and the statistical adjustment related to banknote issuance (of €534.0m). These were partly offset by a €440.1m decline in loans to residents by foreign financial institutions.
In the January-August 2026 period, in the direct investment category, residents’ claims on the rest of the world recorded net flows of €2.4bn, while residents’ liabilities to the rest of the world recorded net flows of €7.9bn.
In portfolio investment, the increase in residents’ claims on the rest of the world was mainly due to a €2.2bn rise in residents’ holdings of shares in companies that are non-resident and, to a lesser extent, a €1.3bn increase in residents’ holdings of foreign bonds and Treasury bills.
The increase in residents’ liabilities primarily reflected a €9.1bn rise in non-residents’ holdings of Greek bonds and Treasury bills, as well as a €3.4bn increase in non-residents’ holdings of shares in domestic companies.
In the other investment category, the increase in residents’ claims on the rest of the world was due to a €3.5bn rise in loans to non-residents by domestic financial institutions and the statistical adjustment for banknote issuance (of €3.4bn).
The decline in residents’ liabilities was mainly associated with a €9.5bn reduction in loans to residents by foreign financial institutions. This was largely offset by a €5.4bn increase in non-residents’ holdings of deposits and repos in Greece (including the TARGET account) and, to a lesser extent, the statistical adjustment for banknote issuance (of €3.4bn).
At the end of August 2026, the country’s foreign exchange reserves stood at €20.6bn, compared with €17.4bn at the end of August 2025.
* See the accompanying material column for details.