Drop in both exports and imports
Greek exports fell 12.2% in November, on a decline of 7.5% in the 11 months from January to November 2023, though their value exceeded 47 billion euros, the second-highest ever recorded.
The improvement in export performance of food, oils and fat, and alcohol and tobacco partly offset a decline in the exports of industrial products. The value of exports totaled €4.29 billion in November 2023, down 12.2% year-on-year, while imports totaled €6.95 billion, down 19.3% over the same period. Exports excluding oil products were down 10%, while imports fell 3.5% in November. The trade deficit rose 7.3% to €2.16 billion.
In January-November, the value of exports amounted to €47.19 billion, down 7.5% from the same period in 2022, while imports fell 12.9% to €11.23 billion. Excluding oil products, exports fell 1.3% and imports eased 3.2%, with the trade deficit shrinking by 5.8% to €23.25 billion.
Food (€573.1 million, +9%), machinery and vehicles (€233.1 million, +5.2%), oil/fat (€534.2 million, +63.4%) and alcohol/tobacco (€145.2 million, +14%) led exports, while industrial products (€1.08 billion) and raw materials (€321.2 million) dropped 13.7% and 18.1% respectively.
