Greek current account surplus shrinks in August, tourism revenues rise

ATHENS, Oct 22 (Reuters) - Greece's current account balance showed a smaller surplus in August compared to the same month a year earlier on the back of a wider trade deficit and a deterioration in the primary income balance, the Bank of Greece said on Monday.

Central bank data showed the surplus shrank to 1.564 billion euros ($1.80 billion) from a surplus of 1.826 billion euros in August 2017. Tourism revenues increased to 3.6 billion euros from 3.55 billion in the same month a year earlier.

"In July the current account showed a surplus of 1.6 billion euros, down by 262 million year-on-year, mainly due to a deterioration in the primary income account, which was attributable to lower receipts from dividends, interest and profits," the Bank of Greece said.

It said the trade gap rose slightly despite a pickup in export growth.

In January to August, Greece's current account showed a deficit of 910 million euros, up by 857 million euros year-on-year as the trade deficit widened and the primary income account surplus shrank.

In 2017 as a whole, Greece's current account deficit reached 1.5 billion euros, down by 418 million year-on-year.

************************************************************** CURRENT ACCOUNT (bln euros) 2018 2017 January -0.586 -0.340 February -1.294 -1.030 March -0.956 -1.412 April -1.344 -0.506 May 0.191 -0.658 June 0.210 0.737 July 1.577 1.545 August 1.564 1.826 ------------------------------------------------- * revised source: Bank of Greece ($1 = 0.8675 euros) (Reporting by George Georgiopoulos)