ECONOMY

Exports rise sees trade deficit post 20 pct decline

Greece’s trade deficit posted a 20.5 percent drop in January-April this year compared to the same period in 2012, as despite problems, exports are continuing to grow while imports keep falling.

According to Hellenic Statistical Authority (ELSTAT) data released on Tuesday, total exports for April reached 2.5 billion euros from 2.16 billion in April 2012 – representing an 8.5 percent rise and mostly due to an increase in fuel exports. However, when oil products are not taken into account, the increase comes to just 0.8 percent.

Imports meanwhile amounted to 3.92 billion euros from 3.95 billion a year earlier, showing a 1 percent decline, but when fuel is discounted imports show an increase of 6.4 percent and the trade deficit a drop of just 12.1 percent, against 20.9 percent when oil products are included in the April data.

Fuel exports mostly concern the refueling of ships docked at Greek ports.