ECONOMY

Greek trade balance deficit down by 17.2pct in 2012, as imports fell and exports rose

Greece’s trade balance deficit fell by 17.2 percent last year on the back of a reduction in imports and increase in exports, according to figures published on Monday.

The Hellenic Statistical Authority (ELSTAT) said that the deficit, excluding oil products, for the 12-month period from January to December 2012 amounted to 13.2 billion euros in comparison with 15.9 billion euros for the whole of 2011, a drop of 17.2 percent.

Imports excluding oil products for 2012 amounted to 30.2 billion euros compared with 32.1 billion euros for 2001, a drop of 6 percent.

The total value of exports excluding oil products, for 2012 amounted to 17 billion euros compared to 16.1 billion euros for 2011, recording an increase of 5.1 percent.

In December 2012 exports fell by 15 percent as imports rose by 1 percent, causing the trade balance, excluding oil products, amounted to 1 billion euros compared to 834.8 million euros in December 2011, an increase, of 30.4 percent.