Greece Balance of Trade

Greece recorded a trade deficit of 1981.40 EUR Million in February of 2014. Balance of Trade in Greece is reported by the National Statistical Service of Greece. Balance of Trade in Greece averaged -2466.49 EUR Million from 2001 until 2014, reaching an all time high of -1157.30 EUR Million in August of 2001 and a record low of -4209.20 EUR Million in June of 2008. Greece reports regular trade deficits due to excessive amount of imports. Main imports are: motor vehicles (13 percent), fuel (9 percent) and pharmaceuticals (8 percent). Main exports are: food (19 percent of total exports), petroleum products (15 percent), pharmaceuticals (5 percent) and aluminium (4 percent). Greece main trading partners are Germany (15 percent of imports and 10 percent of exports) and Italy (13 percent of imports and 10 percent of exports). This page provides - Greece Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-16

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-1981.40 -1623.70 -1157.30 -4209.20 -1671.19 | 2014/03 2001 - 2014 EUR Million Monthly

TO

Greece Balance of Trade
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-12-10 10:00 AM Greece
Balance of Trade
Oct 2013 € -1.96B € -1.53B (R) € -1.7B
2014-02-07 10:00 AM Greece
Balance of Trade
Dec 2013 € -1.39B € -1.53B € -1.7B
2014-03-10 10:00 AM Greece
Balance of Trade
Jan 2014 € -1.62B € -1.39B € -1.7B
2014-04-07 10:00 AM Greece
Balance of Trade
Feb 2014 € -1.98B € -1.62B € -1.7B
2014-05-08 10:00 AM Greece
Balance of Trade
Mar 2014 € -1.98B € -1.7B
2014-06-06 10:00 AM Greece
Balance of Trade
Apr 2014 € -1.8B
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Trade Last Previous Highest Lowest Forecast Unit
Current Account -295.00 2014-01-15 -215.40 2774.50 -4957.30 -624.66 2014-02-28 EUR Million [+]
Balance of Trade -1981.40 2014-02-15 -1623.70 -1157.30 -4209.20 -1671.19 2014-03-31 EUR Million [+]
Exports 2049.60 2014-02-15 2128.80 2767.10 691.90 2062.57 2014-03-31 EUR Million [+]
Imports 4031.00 2014-02-15 3752.40 6198.80 1919.00 3730.07 2014-03-31 EUR Million [+]
Current Account to GDP -7.70 2012-12-31 -11.70 -0.10 -18.00 -6.12 2013-12-31 Percent [+]
Capital Flows -290.80 2014-01-15 309.50 4767.10 -2505.80 500.01 2014-02-28 EUR Million [+]
External Debt 417069.00 2013-12-31 418880.50 437025.00 142217.00 412406.98 2014-03-31 EUR Million [+]
Remittances 97.00 2013-08-15 128.00 512.00 77.00 130.84 2013-12-31 EUR Million [+]
[+]


Greek Trade Deficit Widens in February

Greek trade deficit increased for the second consecutive month to a preliminary estimate of € -1.98 billion, due to a 7 percent drop in exports. A year earlier, the trade deficit reached € 1.76 billion.

The total value of imports amounted to € 4031 million, against € 3969.4 million in February of 2013, recording an increase of 1.6 percent. Excluding oil products, purchases rose 16.4 percent. 

The country imported mainly mineral fuels (30.2 percent of total imports) and machinery and transport equipment (13.6 percent) from countries outside the EU. Purchases from the EU accounted for 43.6 percent of total imports in February of 2014. 

Exports amounted to € 2049.6 million in the second month of 2014, against € 2202.7 million a year earlier. The corresponding change excluding oil products recorded a drop of 5.6 percent. The country shipped mostly mineral fuels and lubricants (32.6 percent of total exports) to countries outside the EU while sales to the EU accounted for 45.9 percent of total exports.  

Helenic Statistical Authority | Joana Taborda | joana.taborda@tradingeconomics.com
4/7/2014 11:04:01 AM

RECENT RELEASES

Greek Trade Deficit Narrows in January
Trade deficit in Greece narrowed to €1.62 billion in January of 2014 from €1.90 billion a year earlier, as imports shrank at a faster pace than exports. Compared with December of 2013, the trade deficit narrowed 16 percent, according to preliminary estimates. Published on 2014-03-10

Greek Trade Deficit Narrows in December
Preliminary estimates showed the Greek trade deficit decreased in the last month of 2013 to € 1.39 billion from € 1.5 billion in November and € 1.4 billion a year earlier. Published on 2014-02-10


Balance of Trade | Notes
The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period of time. A positive balance of trade is known as a trade surplus and occurs when value of exports is higher than that of imports; a negative balance of trade is known as a trade deficit or a trade gap.


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