BUSINESS

Greece's trade deficit up 9.6 pct in 2014

Greece’s trade deficit increased by 9.6 percent during the first half of the year due to a rise in imports and a drop in exports, the Hellenic Statistical Authority (ELSTAT) said on Monday.

If oil products are excluded from the calculations, the rise in the trade deficit, which reached 10.6 billion euros, soars to 25.3 percent.

This increase is down to a 1.2 percent rise in imports to 23.7 billion euros and a 4.6 percent fall in exports to 13.1 billion euros.

The trade deficit for June alone was 1.7 billion euros, a rise of 7.4 percent on the same month last year, which shoots up to 32.6 percent if oil products are excluded.

The value of imports in June reached 4.1 billion euros, a rise of 9.7 percent, while exports rose by 11.3 percent to 2.46 billion euros.

This was only the second rise for exports in the first half of the year.

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