ECONOMY

Imports revert to growth, as exports keep increasing

After a long period of either dropping or standing still, imports posted a significant rise of 5.4 percent in February, according to data released on Tuesday by the Hellenic Statistical Authority (ELSTAT).

Imports amounted to 3.89 billion euros in the second month of the year, up from 3.69 billion in February 2012. In the 12 months from March 2012 to February 2013, there was a 3.4 percent increase compared to the previous 12-month period.

There was also an increase in exports, which in February 2013 amounted to 2.13 billion euros. That was up 6.1 percent on the 2.01 billion registered in February 2012. However, when oil products are taken out of the equation the increase amounts to no more than 3.7 percent. The sum of the 12 months to February 2013 showed an 11.9 percent rise from the previous 12-month period, ELSTAT figures show.

There was an impressive increase in olive oil exports, which in February posted a rise of 221 percent compared to the year before.