Exports drop a gear, but imports slow down further
Greek exports retreated for another month, coming to 4.42 billion euros this October compared with €4.85 billion in October 2022, including fuel products, per ELSTAT.
This 8.8% decrease is mainly due to a reduction in prices; however, it is also related to the decline in demand in several European countries and the war in the Middle East.
Exports also appear reduced on a 10-month level, so overall in 2023 they will probably show a yearly drop.
However, the decline in imports was far greater, reducing the trade deficit. In October 2023 the value of imports fell by 19.4% compared with a year ago and amounted to €8.95 billion.
