Trade deficit down by 21% in July 2023 yoy on back of falling imports

Greece’s trade deficit decreased by 21 percent in July 2023 as imports dropped more than exports in the month, the Hellenic Statistical Authority announced on Thursday.

Specifically, the value of imports reached 6.721 billion euros in the month, down by 17 percent from the corresponding month in 2022, excluding oil products imports fell 3.9 percent while excluding oil products and vessels, imports fell 4 percent.

The value of exports reached 4.266 billion euros in July 2023, down 14.5 percent from July 2022 — excluding oil products exports fell 5.6 percent while excluding oil products and ships exports fell 5.6 percent.

The trade deficit reached 2.455 billion euros, down 21 percent from July 2022.

In the seven-month period from January to July 2023, imports totaled 47.458 billion euros, down 9.1 percent from the corresponding period in 2022 (excluding oil products imports fell 1.7 percent while excluding oil products and ships imports fell 1.9 percent).

Exports totaled 30.110 billion euros in the same period, down 3 percent compared to the same period in 2022 (excluding oil products exports were up 4.3 percent while excluding oil products and ships export rose 3.9 percent).