Greece’s trade deficit witnessed an alarming increase of 18.7% in Nov.
Greece’s trade deficit witnessed an alarming increase of 18.7% in Nov. last year, driven by a rise in imports and a drop in exports, according to the latest data from the Hellenic Statistical Authority, (ELSTAT). This trend has raised concerns about the country’s economic balance.
Import and Export Figures for Nov. 2024
The total value of imports in Nov. 2024 reached 7.2056 billion euros, compared to 6.9837 billion euros in Nov. 2023, marking a 3.2% increase. Excluding petroleum products, imports rose by 256.6 million euros (4.9%), and when further excluding both petroleum products and ships, the increase stood at 258.7 million euros (5%).
Regarding exports, the total value in Nov. 2024 dropped to 4.0246 billion euros from 4.3043 billion euros in the same month of 2023, registering a 6.5% decline. However, exports excluding petroleum products saw an increase of 157.5 million euros (5.2%), and when excluding petroleum products and ships, the rise was 173.8 million euros (5.8%).
Consequently, the trade deficit for Nov. climbed to 3.181 billion euros, compared to 2.6794 billion euros in Nov. 2023. This represents an 18.7% increase. Without petroleum products, the deficit grew by 99.1 million euros (4.5%), and when both petroleum products and ships were excluded, the
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