The coronavirus lockdown weighed on Greek exports in April, with the biggest losses coming by way of the slump in fuel exports due to the drop in demand as well as the drastic cut in the rates of those products. Still, the same factors led to a slide in imports, narrowing the trade deficit.
According to Hellenic Statistical Authority (ELSTAT) data released on Tuesday, the total value of exports came to 2.068 billion euros in April, against €2.98 billion a year earlier, a reduction of 30.6%. When fuel is excluded, the exports show a 10.5% annual drop to €1.94 billion.
The total value of imports amounted to €3.2 billion, against €4.6 billion in April 2019, a reduction of 30.5%, which resulted in the trade deficit declining 30.3%.
The continued strong performance of Greek exports in categories such as food, olive oil and chemicals mitigated the losses from other categories and in several cases actually strengthened foreign customers’ confidence in Greek exporting enterprises. Chemicals enjoyed a 21.1% annual increase to €418.5 million, while food and livestock reached €406.2 million, rising 0.5%.