Greek current account shows gap in June, tourism revenues plunge

ATHENS, Aug 20 (Reuters) - Greece's current account balance turned to a large deficit in June from a surplus in the same month last year on the back of a deterioration in the services balance due to a hit on tourism, the Bank of Greece said on Thursday. Central bank data showed the deficit at 1.421 billion euros ($1.69 billion) from a surplus of 0.805 billion euros in June 2019. The deficit in June was only partly offset by an improved trade balance after a bigger drop in imports compared to exports, the central bank said. Tourism revenues plunged to 64 million euros from 2.55 billion in the same month a year earlier as the sector was hit by the impact of the new coronavirus pandemic on tourism. In 2018, Greece's current account showed a deficit of 5.3 billion euros, up 2.1 billion year-on-year as the trade gap widened. In 2019 the current account showed a deficit of 2.6 billion euros. ************************************************************* CURRENT ACCOUNT (bln euros) 2020 2019 June -1.421 0.805 May -0.914 0.270 April -1.133 -1.397 March -1.106 -1.538 February -1.138 -1.015 January -1.291 -1.183 -------------------------------------------- source: Bank of Greece ($1 = 0.8431 euros) (Reporting by George Georgiopoulos)