Greek exports rose by a whopping 70.4 percent in August 2022, setting the stage for a new annual record, the national federation of Greek exporters announced on Friday.

In a report, the federation said Greek exports are set to post a new record, with the value of exports totaling 35.79 billion euros over the January-August 2022 period. The figure for all of 2021 was 39.3 billion euros.

Conversely, on the “demand side”, a 52.9-percent increase in imports was reported, along with a 29.9 percent hike in the trade deficit during the same eight-month period.

The report stated that the oil products-fuel sector recorded the biggest percentage increase (153.5 percent) in August 2022, followed by hi-tech and patent-protected products (113.1 percent), industrial products (35.2 percent), foodstuffs (29.9 percent), chemicals (26.7 percent), machinery (38.4 percent), alcohol and tobacco (16.6 percent) and oil products (40.2 percent).

Only the raw materials sector fell (-13.8 percent). Excluding oil products, exports grew by 35.2 percent. Greece imports practically all its oil, but then exports refined fuels and lubricants.

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