2012.04.2508:09:00UTC+00Greek Trade Deficit Narrows In February

Greece's merchandise trade deficit decreased from last year in February, data released by the Hellenic Statistical Authority showed Wednesday.

The trade deficit, excluding oil products, decreased 27.4 percent from last year to EUR1.08 billion in February.

Export of goods increased 0.7 percent year-on-year to EUR1.242 billion in February. Shipments to countries outside the European Union (EU) climbed 61.3 percent annually, while dispatches to non-EU nations dropped 20 percent.

Meanwhile, the value of imports decreased 14.7 percent annually to EUR2.322 billion during the month. Arrivals form non-EU countries and EU countries decreased 20.3 percent and 12 percent respectively during the month.

In the two months ended February, the trade balance was a deficit of EUR2.109 billion, lower by 28.6 percent compared to the same period last year. Exports increased 1.2 percent annually, while imports declined 15.1 percent during the period.