According to the Hellenic Statistical Authority (ELSTAT), during the January to May period of 2014 the Greek trade deficit showed an increase of 9.5%. Even though imports recorded a small decline, the trade balance was offset by the large drop in exports.
The total amount of exports during the first five months of 2014 reached 10.6 billion euros, a significant 7.8% decrease compared with the same period of 2014 when it reached 11.5 billion euros.
The trade deficit balance of Greece from January to May 2014 amounted to a total of 8.8 billion euros, a slight increase compared to the same period last year (8 billion euros). However, excluding oil products, growth reaches 23.7%, which is 1.2 billion euros.
In May 2014 exports declined by 2.2% compared to last year and imports showed a 2.8% increase, which in turn lead to a 21.9% increase in the overall trade deficit, compared to the previous year.
Finally, according to ELSTAT, imports in the first five months of 2014 amounted to 19.5 billion euros, showing 0.7% decrease, compared to last year when it was 19.6%, while excluding oil products, imports showed an increase of 7.5%.
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