Trade deficit shrinks as exports rise, imports drop

Greece’s trade deficit fell by 17.2 percent last year on the back of a reduction in imports and increase in exports, according to figures published yesterday. The Hellenic Statistical Authority (ELSTAT) said that the deficit, excluding oil products, for the 12-month period from January to December 2012 amounted to 13.2 billion euros in comparison with 15.9 billion euros for the whole of 2011, a drop of 17.2 percent. Imports excluding oil products for 2012 amounted to 30.2 billion euros compared with 32.1 billion euros for 2001, a drop of 6 percent. The total value of exports excluding oil products, for 2012 amounted to 17 billion euros compared to 16.1 billion euros for 2011, recording an increase of 5.1 percent. In December 2012 exports fell by 15 percent as imports rose by 1 percent, causing the trade balance, excluding oil products, to amount to 1 billion euros compared to 834.8 million euros in December 2011, an increase of 30.4 percent. ployed professionals will be able to claim the unemployment benefit ranges between three and nine months.

Subsidy gateway.

The website www.ependyseis.gr will be open through April 25 for small and mediumsized enterprises to submit investment proposals for subsidies from the program, whose aim is to support SMEs. The program covers the domains of manufacturing, tourism, commerce and services. Eligible enterprises are those which had operated for at least a full 24 months up to December 2011 or are new and about to be set up. The program covers all of the country’s regions and the subsidy rate ranges between 40 an 60 percent depending on the region and the size of the company. Subsidized expenditures range from buildings and production equipment to software and promotion costs.

As of next Monday, March 4, the National Bank of Greece in Australia will operate a representative office only in Melbourne, Greece’s biggest lender has announced. The office’s address is 99 Queen Street, Melbourne, Victoria 3000, and its telephone number +613.9600.2172.

Bulgarian election.

Bulgarian President Rosen Plevneliev will make two more attempts to find parties willing to form a new cabinet and avert early elections after outgoing Premier Boyko Borissov’s party refused. Plevneliev will ask the Socialists to cobble together a new administration tomorrow, and if that fails the ethnic Turk Movement for Rights and Freedoms on Friday, though all the Balkan country’s parties have said they prefer a snap vote. If the move fails, the president has said he’ll call a special ballot for late April or May.