LISBON: Portugal posted a current account deficit of 961 million euros (1.24 billion US dollars) in the first seven months of the year after a surplus of 459 million euros in the same period of 2013, Bank of Portugal data showed on Thursday.

Portugal, which exited an international bailout in May, still churned out a surplus of 749 million euros in the combined balance of trade in goods and services in the period, but it was only about half of 1.6 billion a year earlier as the goods-only deficit increased, the data showed.

Portugal's current account started to reverse to a deficit at the start of this year after the first full-year surplus in two decades registered in 2013, impacted by growing imports amid an economic recovery and slower exports growth.

Portugal's economy is expected to grow this year after three straight years of recession.