February witnessed a reversal of the negative trend in exports that had been recorded in January: Data released by the Hellenic Statistical Authority (ELSTAT) on Friday revealed a 9.3 percent annual increase in exports in February to 2.42 billion euros, following a 1.5 percent year-on-year drop in January.
A similar rate was recorded in exports excluding fuel products, for which annual growth came to 9 percent in February.
Therefore year-on-year growth for the first couple of months of 2019 came to 3.9 percent, as exports (including fuel) amounted to 4.96 billion euros. Excluding fuel, the rise came to 7.2 percent.
On the other hand, there was also notable growth in imports in February: Their total value came to 4.3 billion euros, up 4 percent on February 2018, while the rise came to 10.5 percent when fuel products and ships are excluded. Imports amounted to almost 9 billion euros in the first couple of months, up 4 percent on last year, while the rise came to 7 percent when fuel and ships are excluded.
The trade deficit was reduced by 3.5 percent in February to reach 1.65 billion euros, but in the January-February period it posted a 4.1 percent year-on-year increase to 3.85 billion euros.