Slight drop in exports in July, while imports soar

Preliminary estimates by the Hellenic Statistical Authority (ELSTAT) showed a small decrease in Greek exports in July, compared with the same month in 2013, amounting to 1.1 percent including fuel products. At the same time imports showed a strong increase that reached 10.1 percent.

The total value of exports in July came to 2.46 billion euros, against 2.48 billion in July 2013. However when fuel products are excluded, there was a 1.8 percent increase on a yearly basis. On a 12-month level (from August 2013 to July 2014), exports showed a 6.3 percent decline from the previous 12-month period.

The drop in exports is attributed to the reduction in fuel loads to countries outside the European Union. Total exports to fellow EU states grew by 3.6 percent from a year earlier.

Imports amounted to 4.35 billion euros in July, up from 2.95 billion in July 2013, though on a 12-month basis there was a decline of 1.4 percent registered year-on-year.