Greece's trade deficit narrowed to EUR 1.653 billion in February 2019 from EUR 1.714 billion in the same month of the previous year. Exports increased 9.3 percent year-on-year to EUR 2.65 billion, as sales to countries outside the EU rose 16.4 percent to EUR 1.27 billion and those to the EU advanced 3.5 percent to EUR 1.38 billion. Meantime, imports went up 4 percent to EUR 4.30 billion, as purchases from the EU jumped 10.1 percent to EUR 2.40 billion while those from the EU fell by 2.9 percent to EUR 1.91 billion. Considering the first two months of the year, the country recorded a EUR 5.161 billion gap compared with a EUR 4.967 billion in the same period of 2018. Balance of Trade in Greece averaged -2280.82 EUR Million from 2001 until 2019, reaching an all time high of -716.80 EUR Million in July of 2015 and a record low of -4328.60 EUR Million in March of 2007.
Balance of Trade in Greece is expected to be -2100.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Greece to stand at -1610.00 in 12 months time. In the long-term, the Greece Balance of Trade is projected to trend around -1510.00 EUR Million in 2020, according to our econometric models.