SUERF Policy Brief The Greek Current Account Deficit: A Persistent

The paper also investigates two factors contributing to the deterioration of the CA deficit: the high proportion of imported content in Greek exports and the export specialization of Greek production. [...] This imbalance in the goods balance is attributed to several factors, including the high level of Greek imports, the low competitiveness of Greek products, the high import content of Greek exports, the export specialization of Greek production, the low export penetration of Greek products, and the economy's energy dependence. [...] SUERF Policy Brief, No 1021 2 The Greek Current Account Deficit: A Persistent Problem 2.1 The persistent deficit of the Goods Balance excluding Oil and Ships The most important balance for the Greek economy is the Balance of Goods excluding oil and ships, which reflects the state of Greek production (Bragoudakis, 2024). [...] Adverse factors of the Greek economy that deteriorate the Goods Balance deficit In our analysis, we select to examine two factors that deteriorate the deficit of the Goods Balance: the import content of exports and the export specialization of the country through the structure of exports of the technology-intensive manufactured products. [...] The component of the CA that is the source of its problem is the Goods Balance deficit, primarily due to the significant imbalance in the Goods Balance excluding oil and ships.