ECONOMY

Greece’s trade deficit with Japan narrows

Greece’s trade deficit with Japan seems to have narrowed as a result of the economic recession, which has been accompanied by a rise in Greek farm exports and a fall in Japanese industrial imports, mainly vehicles.

According to the Hellenic Statistical Authority (ELSTAT), Greek exports to Japan were up 43.5 percent to 52 million euros in 2012 while Japanese imports declined by 59.7 percent to 129.5 million.

The main Greek export, cotton, was up 117 percent, reaching 14.5 million euros in value.