With great pleasure Greece declared a record third month surplus in current account balance, in September, 2012. It reached a surplus of about of 775 million euros and the striking news is that Greece managed to reach this position after facing a deficit of about 1.1 billion euros a year back.
The Bank of Greece in a recent statement today mentioned that the trade deficit fell down by about 700 million euros. The trade deficit which is calculated excluding oil and ships shrank considerably reduced the import bill. The surplus related to the service balance was narrowed down by 75 million euros due to the decrease in the net receipts from transport services as well as other services.
Although the net travel receipts almost remained unchanged, this is as per the central bank of Greece. The income account displayed a surplus of about 144 million euros in comparison to the 939 million euros deficit in September 2011.