Greece's current account gap widened in March, driven primarily by a deterioration in the secondary income account, according to data released by the Bank of Greece on Tuesday.
The current account deficit grew to €2.7 billion, up from €2.4 billion in the same month the previous year.
The visible trade deficit remained relatively stable at €2.58 billion in March. In contrast, the surplus in the services balance decreased to €402 million, down from €438 million a year earlier.
On a positive note, the primary income account deficit narrowed to €398 million, an improvement from the previous year's €633 million.
However, the secondary income balance shifted to a deficit of €114 million, down from a surplus of €378 million, largely contributing to the overall increase in the current account deficit.
At the end of the first quarter, the capital account balance recorded a deficit of €108 million, while the financial account deficit improved, narrowing to €2.37 billion.