BUSINESS

Exports post rise in October

TAGS: Economy

Greek exports posted an increase in October, albeit smaller than in September, according to data released by the Hellenic Statistical Authority (ELSTAT).

The total value of exports, including fuel products, amounted to 2.34 billion euros, against 2.24 billion in October 2015, registering a year-on-year rise of 4.8 percent. Excluding fuel, the increase amounted to 3 percent.

That was not enough to offset the decline seen so far this year: In the January-October period exports came to 20.92 billion euros, down from 21.52 billion in the same period in 2015. However, if one deducts fuel products, there was an annual rise of 1.2 percent.

Imports dropped considerably in October, amounting to 4.08 billion against 4.31 billion a year earlier, meaning they shrank 5.3 percent. Take out fuel products and the yearly decline came to 12.6 percent.

This offset the increase recorded in previous months, as imports in the January-October period matched the 36.21 billion euros recorded in the first 10 months of 2015. Excluding fuel products, there was a 6.9 percent rise.

The Greek trade deficit shrank 16.1 percent in October (or 25.1 percent excluding fuel products). However, in the first 10 months there was a 4 percent rise (or 14 percent excluding fuel products).

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