The current and capital account of the balance of payments ran a deficit of EUR 469m in the fourth quarter of 2023, having improved by EUR 633m from the same period of the year before. Revenues from tourism recorded considerable growth in 2023, having risen from EUR 13,1bn in 2022 to EUR 14.6bn in 2023 (19.6% of GDP), which is an increase of EUR 1.49bn or 11.4%.
In the fourth quarter of 2023, the financial account of the balance of payments recorded a negative balance of EUR 872m (net capital inflow) , in contrast with EUR –1,134m in the same quarter of the year before.
At the end of the fourth quarter of 2023, the net international investment position stood at EUR –16.7bn or –22.0% of GDP.