Exports drop sharply in June, but imports follow

Exports drop sharply in June, but imports follow

Greek exports declined for a third month in a row in June, with year-on-year decline reaching 24.5%. Part of the decline is that the prices of many goods, especially oil products are lower. But imports declined significantly in the first half, bringing the trade deficit down. 

According to data released by statistics agency ELSTAT Monday, exports in June 2023 reached €4.10 billion, while imports reached €6.7 billion, down 21.1%. 

Total first-half exports were €25.80 billion, 0.90% lower than in the same period in 2022, while imports declined 7.7%, to €40.72 billion. 

The trade deficit, at €14.91 billion was 17.6% lower than in the first half of 2022. 

The negative turn in June has worried Greek businesses who say they fear a further decline in purchasing power in European countries. 

“We are watching the course of exports very carefully. The negative international climate is affecting Greek exporters, posing obstacles in raising their turnover,” said Christina Sakellaridi, president of the Exporters’ Association.


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