More than 23 billion euros were raised travel receipts the first 11 months of 2025.
According to data from the Bank of Greece (Bank of Greece), in November revenues reached 726 million euros, or 157 million more than the corresponding month of 2024.
Arrivals of non-resident travelers increased by 9.7%, while related receipts increased by 27.7%. Therefore, the total receipt for the 11th month amounted to 23.003 billion euros, higher by 1.87 billion euros compared to the corresponding period last year.
The balance
In November 2025, the current account deficit decreased by 1.3 billion euros compared to the corresponding month of 2024 and stood at 2.1 billion euros. The balance of goods and services also registered an improvement.
The deficit in the balance of goods decreased while exports increased and imports decreased. At current prices, exports of goods increased by 1.5% (2.5% at constant prices), while imports of goods decreased by 5.5% (-2.9% at constant prices). Exports of non-fuel goods decreased by 2.7% at current prices (-3.2% at constant prices) and corresponding imports by 3.0% (-3.8% at constant prices).
The surplus in the balance of services increased, mainly due to the improvement in the balance of travel, which was largely offset by the deterioration of the balances of transport and other services. Compared to November 2024, non-resident arrivals increased by 9.7% and related receipts by 27.7%.
The deficit in the balance of primary income widened compared to the corresponding month of 2024, reflecting a decrease in net receipts from other primary incomes, partially offset by a decrease in net payments for interest, dividends and income. The balance of secondary income shows a surplus, against a deficit in November 2024, as a result of recording net receipts, against net payments, in the general government sector.
In the period of January-November 2025, the current account deficit decreased by 3.0 billion euros compared to the corresponding period in 2024 and amounted to 10.3 billion euros. The deficit in the balance of goods and services also registered an improvement.
The deficit in the balance of goods decreased, as the decrease in imports exceeded exports. At current prices, exports of goods decreased by 3.0% (up 1.5% at constant prices) and imports of goods by 4.6% (-3.2% at constant prices). At current prices, exports of non-fuel products increased by 2.4% and the corresponding imports by 1.8% (4.9% and 1.2% at constant prices respectively).
The service surplus widened, due to the improvement in the balance of travel services and despite the deterioration of the balance of transport and other services. Compared to the period of January-November 2024, the arrivals of non-resident travelers increased by 4.6% and the related receipts by 8.9%.
The deficit in the balance of primary income decreased compared to the corresponding period in 2024, mainly as a result of lower net payments for interest, dividends and income. The surplus in the balance of secondary income increased compared to the corresponding period in 2024, mainly due to the decrease in the general net payment of the government, which was partially offset by the decrease in the net receipts of the non-general government sector of the economy.
Capital balance
In November 2025, the capital balance surplus recorded a significant increase compared to the corresponding month of 2024, reflecting the increase in net receipts of the general government sector.
In the period of January-November 2025, the capital balance shows a surplus of 1.7 billion euros, compared to the deficit in the corresponding period of 2024, due to the increase in net receipts of the general government.
Total Current and Capital Balance
In November 2025, the deficit of the total balance of current transactions and capital (corresponding to the needs of the economy for financing from abroad) registered a significant decrease compared to the corresponding month of 2024 and was formed at 946,2 million euros.
In the period of January-November 2025, the deficit of the total balance of current transactions and funds narrowed in relation to the corresponding period of 2024 and amounted to 8,5 billion euros.
Balance of Financial Transactions
In November 2025, in the direct investment category, claims of residents vis-Ã -vis abroad recorded a net flow of 186.5 million euros and liabilities of residents vis-Ã -vis abroad a net flow of 183.7 million euros.
In portfolio investments, the increase in the claims of residents against abroad mainly reflects the increase of 730.0 million euros in their placements in bonds and bonds abroad and, to a lesser extent, the increase of 234.1 million euros in the placements of residents in shares of non-resident companies. The increase in their liabilities was mainly due to a €2.1 billion increase in non-resident placements in Greek bonds and, to a lesser extent, a €130.0 million increase in non-resident placements in domestic corporate shares.
In the category of other investments, there was an increase in the claims of residents vis-a-vis abroad, mainly due to a €417.7 million increase in loans to non-residents from local financial institutions and, to a lesser extent, due to a €290.9 million increase in placements of residents in deposits and repos abroad, offset in part by €3111 million relating to the bank’s statistical adjustment. The decrease in their debts comes from the EUR 320.7 million decrease in the debt owed by residents to non-residents and the aforementioned statistical adjustment of EUR 311.0 million, which is partially offset by the EUR 491.0 million increase in non-residents’ deposits and repos in Greece (including the TARGET account).
In the period of January-November 2025, in the direct investment category, the claims of residents vis-a-vis abroad recorded a net flow of 5.0 billion euros and the debts of residents vis-a-vis abroad, corresponding to the direct investment of non-residents in Greece, recorded a net flow of 11.0 billion euros.
In portfolio investment, the increase in claims of residents against abroad was driven by a €5.3 billion increase in placements by residents in non-resident corporate shares, which was largely offset by a €4.0 billion decrease in placements by residents in foreign bonds and notes. The increase in their liabilities mainly reflects a €13.7 billion increase in non-resident positions in Greek bonds and interest-bearing payments.
In the category of other investments, the increase in the claims of residents against abroad is mainly due to the statistical adjustment for the issuance of banknotes of 6.2 billion euros and, to a lesser extent, the increase of 2.1 billion euros in loans to non-residents, which is partially offset by the decrease of 635.3 million euros in deposits abroad and cabbages of residents. The reduction in their debts is mainly related to the EUR 7.0 billion reduction in non-resident deposits and repos in Greece (including the TARGET account) and, to a lesser extent, to the EUR 1.7 billion reduction in loans granted to residents by financial institutions abroad, which is largely offset by the aforementioned statistical adjustment of EUR 6.2 billion.
At the end of November 2025, the country’s foreign exchange reserves stood at 20.1 billion euros, compared to 14.6 billion euros at the end of November 2024.
