Greek exports make remarkable jump of 70%

Greek exports jumped 70.4% in August moving towards a new record for the year, Panhellenic Exporters' Federation said on Friday.

In a report, the Federation said that Greek exports were moving towards a new record with the value of exports totaling 35.79 billion euros in the January-August period, approaching the level of 39.3 billion euros in the whole of 2021. However, this enthusiasm is curbed by a 52.9% jump in imports and a 29.9% widening of the trade deficit during the same period.

The report said that the oil products-fuel sector recorded the biggest percentage increase (153.5%) in August, followed by the confidentiality products (113.1%), industrial products (35.2%), food (29.9%), chemicals (26.7%), machinery (38.4%), alcohol & tobacco (16.6%) and oils (40.2%). Only the raw materials sector fell (-13.8%). However, excluding oil products, exports grew by 35.2%.

On the other hand, imports grew 52.5% to 7.69 billion euros, while excluding oil products imports grew by 26.6%.

The country's trade deficit widened by 29.9% to 2.90 billion euros, while excluding oil products the trade deficit rose 17.2% to 2.01 billion euros.

Exports in the January-August period grew by 43.2% to 35.79 billion euros, while excluding oil products exports rose 24.6%. Imports totaled 19.73 billion, up 49.7%, while excluding oil products imports grew 31.5%.

The trade deficit jumped 60.5% to 23.66 billion euros, while excluding oil products, the deficit rose by 42.1%.