Current Account Balance: Greece

Analysis# Greece Current Account Balance Greece's current account balance stands at -5.3% of GDP in 2026, reflecting persistent external imbalances despite modest recent improvement. The country's deficit remains far from its all-time peak of -0.1% in 1994 but has recovered considerably from the devastating -14.7% low reached during the 2008 financial crisis. Overall, Greece's current account has deteriorated by 35.9% since 1980, signaling structural challenges in the nation's trade and investment dynamics. The most dramatic shift occurred between 2021 and 2022, when the deficit widened sharply from -7% to -10.7%, likely driven by surging import costs and energy prices. Since that peak, Greece has shown a gradual recovery trajectory, declining to -5.3% by 2026. Projections suggest this downward trend will continue, with the current account deficit expected to stabilize around -5% of GDP, indicating Greece's external position is normalizing but remains structurally negative.