ELSTAT: Trade deficit increases to 5.4 billion euros in Q1 2014

The Greeks statistics authority ELSTAT published data on the trade balance for the January-March 2014 three-month period and found…

The Greeks statistics authority ELSTAT published data on the trade balance for the January-March 2014 three-month period and found that there was a 5.444 billion euro deficit, which was up by 3.1% since the same semester in 2013. Excluding oil products, the deficit increase was 953.5 million euros (29.8%).

ELSTAT also reported that the total value of imports in March 2014 was 3,973 million euros, compared to 3,709.9 million euros in March 2014, marking a 7.1% increase. Excluding oil products the increase was 424.1 million euros (17%). The total value of exports in March 2014 was 2,152.4 million euros, compared to 2,122.5 million euros in March 2013. Excluding oil products, the balance dropped by 83.6 million euros (5.9%).

According to ELSTAT’s data, the trade deficit in March 2014 was 1m820.6 million euros, compared to 1,587.4 million euros in March 2013. This resulted in a 14.7% increase, however if excluding oil products, the deficit increases by 507.7 million euros, namely 47.6%.

The total value of imports in the January-to-March 2014 semester came to 11,801.8 million euros, compared to 11,832 million euros in the same semester of 2013, marking a 0.3% drop. Excluding oil products, the balance marked a 763 million euro increase (10.5%). Meanwhile, the total value of exports in the January-to-March 2014 semester came to 6,356.9 million euros, compared to 6,551.3 million euros in the same semester of 2013, marking a 3% drop. Excluding oil products, the balance marked a 190.5 million euro increase (4.7%).

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