Trade deficit reg­is­ters a mild de­cline

Kathimerini English - - Front Page -

Greece’s trade deficit posted a 5.5 per­cent de­cline in the first 11 months of last year com­pared with the same pe­riod in 2011, ac­cord­ing to fig­ures re­leased yes­ter­day by Euro­stat in Brus­sels.

The Greek trade bal­ance reg­is­tered a deficit of 19 bil­lion eu­ros, down from 20.1 bil­lion eu­ros in the Jan­uary-Novem­ber 2011 pe­riod.

The data from the Euro­pean Union’s statis­tics agency show that Greek ex­ports grew by 19 per­cent in the year to Novem­ber, climb­ing from 20.5 bil­lion a year ear­lier to 24.5 bil­lion, while im­ports reg­is­tered a 7 per­cent de­cline to fall from 43.5 bil­lion to 40.6 bil­lion eu­ros.

Im­ports in Greece have been in de­cline over the last three years due to the con­sid­er­able slump in con­sump­tion, which is also driv­ing lo­cal com­pa­nies to­ward be­com­ing more ex­tro­vert, which also bol­sters the coun­try’s ex­ports.

The high­est trade sur­plus in the EU was once again recorded in Ger­many (174.6 bil­lion eu­ros), fol­lowed by the Nether­lands (46 bil­lion) and Ire­land (39.9 bil­lion). The high­est deficits were reg­is­tered by the United King­dom (152.9 bil­lion eu­ros), France (75.2 bil­lion), Spain (30 bil­lion) and Greece.

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