Greek Trade Deficit Narrows in May


In May, Greece’s trade deficit narrowed to € 1.43 billion from a gap of € 1.74 billion in May of 2012 amid falling imports and rising exports. Shipments registered an increase of 4.5 percent, driven by sales of oil products, while imports fell 5.1 percent from a year earlier.

The total value of exports in May amounted to € 2.4 billion against € 2.3 billion in May of 2012. Dispatches to European Union countries increased 5.6 percent while shipments to those outside the EU were up 3.6 percent. Excluding oil products, exports decreased 9.5 percent.

Imports reached €3.85 billion in May against €4.05 billion euros in the same month of the previous year. Purchases from countries outside the EU decreased sharply, by 6.9 percent, while arrivals from EU countries fell 2.9 percent.

In the 12-month time period of June of 2012 to May of 2013, exports increased 12.2 percent compared to the corresponding months a year earlier. In the same period, the total value of imports decreased by 1.7 percent.

Greek Trade Deficit Narrows in May


ELSTAT | Nuno Fontes | nuno@tradingeconomics.com
7/10/2013 12:22:37 PM