Greek Trade Deficit Closes to $13 Billion

Greek Trade Deficit Closes to $13 Billion

While most of the numbers in Greece’s crushing economic crisis are negative, the country’s trade deficit for the first nine months of the year fell 21.6% to 10.05 billion euros ($13 billion) compared to the January-September period last year, data published by the Hellenic Statistical Authority (ELSTAT) indicated.

Imports during the nine-month period fell 8.7% to 22.5 billion euros ($29.1 billion) while exports rose by 5.35 to 12.45 billion euros, ($16.13 billion.) The total value of imports, excluding oil products, in September 2012 amounted to 2.4 billion euros, ($3.1 billion), which was down 14.8% from September 2011. The total value of exports, excluding oil products, in September 2012 amounted to 1.3 billion euros, ($1.68 billion), a 7% drop from a year earlier.

(Sources: ANSA, Kathimerini)