Greek trade deficit down 11% in May 2023

Greece’s trade deficit decreased by 11 percent in May 2023, in tandem with a 15.4-percent downturn in exports and a 13.6-percent drop in imports, Hellenic Statistical Authority announced on Friday.

Specifically, the value of imports totaled 7.0 billion euros in May 2023, down 13.6 percent from the same month last year (excluding oil products imports fell 4.8 percent, while excluding oil products and ships, imports eased 4.7 percent). The value of exports totaled 4.063 billion euros, down 15.4 percent from May 2022 (excluding oil products, exports rose 14.6 percent and excluding oil products and ships, exports rose 3.6 percent).

The trade deficit amounted to 2.942 billion euros, down 11 percent from May 2022, (excluding oil products and ships the deficit was down 14.6 percent, while excluding oil products and ships the deficit fell 13.8 percent).

In the January-May period, imports totaled 34.016 billion euros, down 4.5 percent from the corresponding period last year (excluding oil products, imports fell 0.5 percent, while excluding oil products and ships, imports fell 0.6 percent). Exports rose 5.7 percent in the five-month period to 21.763 billion euros (excluding oil products, exports rose 8 percent, and excluding oil products and ships, exports rose 7.5 percent). The trade deficit fell 18.4 percent to 12.253 billion euros (excluding oil products, the deficit fell 11.5 percent, while excluding oil products and ships the deficit fell 11.1 percent)