Greece's trade deficit increased to EUR 1.697 billion in December of 2018 from EUR 1.615 billion in the corresponding month of the previous year. Imports edged up only 0.2 percent to EUR 4.27 billion, as higher purchases from countries outside the EU (1.2 percent to EUR 2 billion) were offset by lower imports from EU countries (-0.7 percent to EUR 2.27 billion). Meanwhile, exports fell 2.8 percent to EUR 2.57 billion, as shipments to countries outside the EU slumped 8.4 percent to EUR 1.20 billion whereas those to EU countries rose 2.6 percent to EUR 1.37 billion. Considering full year of 2018, the country's trade deficit widened slightly to EUR 21.71 billion from EUR 21.47 billion in the same period of 2017, with overseas sales growing 15.7 percent to EUR 33.42 billion and imports rising 9.5 percent to EUR 55.13 billion. Balance of Trade in Greece averaged -2282.19 EUR Million from 2001 until 2018, 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.