ELSTAT: Jan-Feb. Trade Deficit Jumps to 18.4%

The trade deficit recorded an 18.4% jump during the January-February 2024 period compared to the same period last year, according to data released by the Greek Statistical Authority (ELSTAT). Correspondingly, imports decreased by 1.1%, while exports saw a notable decrease of 11.4%, causing significant concern for the trajectory of the Greek economy.

The corresponding deficit excluding oil products recorded an increase of 541.6 billion euros or 14.6% and the corresponding deficit excluding oil products and ships recorded an increase of 494.8 million euros or 13.3%.

The total value of imports, in February 2024 amounted to 6,997.8 billion euros in comparison with 6,746.7 billion euros in February 2023, recording an increase, in euros, of 3.7%. The corresponding value excluding oil products in February 2024 recorded an increase of 389.1 million euros or 8.1% and the corresponding value excluding oil products and ships in February 2024 recorded an increase of 407.8 million euros or 8.6%, in comparison with February 2023.

The total value of exports, in February 2024 amounted to 3,963.9 billion euros in comparison with 4,482.8 billion euros in February 2023, recording a drop, in euros, of 11.6%. The corresponding value excluding oil products recorded in February 2024 a drop of 54.4 million euros or 1.8% and the corresponding value excluding oil products and ships in February 2024 recorded a drop of 11.2 million euros or 0.4%, in comparison with February 2023.

The deficit of the trade balance, in February 2024 amounted to 3,033.9 billion euros in comparison with 2,263.9 billion euros in February 2023, recording an increase, in euros, of 34.0%. The corresponding value of deficit excluding oil products in February 2024 recorded an increase of 443.5 million euros or 24.1% and the corresponding value excluding oil products and ships in February 2024 recorded an increase of 418.9 million euros or 22.7%, in comparison with February 2023.

The total value of imports, for the 2-month period from January to February 2024 amounted to 13,584.3 billion euros in comparison with 13,737.7 billion euros for the corresponding period of the year 2023, recording a drop, in euros, of 1.1%.