ECONOMY

Exporting companies reach limit

Greek exports fell 2 percent in the first 10 months of the year compared to the same period in 2012, according to Hellenic Statistical Authority data released on Tuesday, confirming that export firms have reached their limit. However imports have registered a fresh decline, leading to a further reduction in the trade deficit.

The total value of exports in October 2013 came to 2.32 billion euros, against 2.57 billion in October 2012, dropping 9.6 percent. Excluding fuel, the drop is down 2.3 percent year-on-year. Imports fell to 4.17 billion euros from 4.53 billion a year earlier.

In January-October, Greek exports including fuel came to 23.2 billion euros, against 22.37 billion euros in 2012, or a 3.7 percent increase. Yet when fuel is excluded, exports show a 2 percent yearly drop. Both figures are in line with exporters’ estimates for the whole of 2013.

The trade deficit fell 5.7 percent in October from the same month last year, while in the first 10 months of the year it dropped 13.1 percent.