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Athens - Greece last year posted its first current account surplus since official records began in 1948, following a sharp contraction in imports and a strong rise in tourism receipts, the Bank of Greece said Wednesday.
For the whole of 2013, the country's current account balance came in at €1.2bn ($1.64bn), compared with a deficit of €4.6bn in 2012.
"This development is attributable, primarily, to a significant decline in the trade deficit (down by €2.4bn) and, secondarily, to increases in the current transfers and services surpluses (up by €3bn and €1.7bn, respectively)," the bank said in a statement.
The contraction in the country's trade deficit was the result of a 4.5% drop in the import bill, coupled with a 2.3-per-cent rise in export receipts.
The services surplus was largely the result of a 14.9% rise in spending by foreign tourists visiting the Mediterranean country.
In December 2013, the current account deficit almost halved year-on-year to €215m.
Greece is currently in its sixth-straight year of recession as it continues to implement unpopular austerity reforms in exchange for billion in emergency aid by international creditors.
