Greek Trade Deficit Narrows in January

Trade deficit in Greece narrowed to €1.62 billion in January of 2014 from €1.90 billion a year earlier, as imports shrank at a faster pace than exports. Compared with December of 2013, the trade deficit narrowed 16 percent, according to preliminary estimates.

Imports dropped 9.4 percent on the year to €3.75 billion against €4.14 billion in January 2013. Purchases excluding oil products fell 3.3 percent. Imports from the non-European Union countries decreased 14.2 percent yoy, while those from the European Union declined 2.9 percent.

Exports amounted to €2.13 billion, compared with last year’s €2.22 billion (-4.3 percent) mainly due to a 9.1 percent drop in sales to non-European Union countries. In contrast, shipments to the European Union countries expanded 1.9 percent.

On a monthly basis, exports increased 1 percent and imports rose 7 percent.

The country imported mainly mineral fuels and lubricants from the non-European Union countries (36 percent of total imports) and chemicals and related products from European Union countries (12 percent).

Sales of mineral fuels and lubricants to the non-EU countries accounted for 33 percent of exports, while food, live animals and manufactured goods to the EU countries for 19 percent.

Greek Trade Deficit Narrows in January

Helenic Statistical Authority | Isabel Felino |
3/10/2014 1:30:14 PM