Greece: Export boom in January

Greece: Export boom in January

An “explosion” in exports took place in the first month of 2018, which illustrates the improvement of the state Greece is in as well as its competitiveness.

According to the Hellenic Statistical Authority (HSA – ELSTAT), an increase of 19.5% in January exports without petroleum products was recorded, while imports decreased by 10.7%.

Thus, the total value of exports in January 2018 amounted to € 2,536 billion compared to € 2,141.2 million in the same month of 2017, showing an increase of 18.5% in euro.

The corresponding shift without petroleum products in January 2018 increased by €275.5 million, or 19.3%, and the corresponding change without petroleum products and ships in January 2018 increased by  302.1 million, i.e. 21.6%.

At the same time, the total value of imports in January 2018 amounted to € 4,521.1 million compared to € 4,470.1 million in the same month of 2017, showing an increase in euro of 1.1 %.

For these reasons, the trade deficit in January 2018 decreased to € 1,984 billion compared to € 2,328 billion in the same month of 2017, showing a decrease of € 14,8%.

Small increase of inflation

Meanwhile, HSA  has recorded a 0.1% increase in inflation in February, compared to  1.3% in the corresponding comparison between the years 2017 and 2016.

The increase resulted From the increases in the indices by:

• 6.2% in Alcoholic beverages and tobacco, mainly due to a rise in tobacco prices

• 1.3% in clothing and footwear, mainly due to price increases in clothing and footwear

• 0.1% in Health, mainly due to higher prices in pharmaceuticals, hospitals and clinics

• 2.8% in Transport

• 0.2% in Education

• 1.1% Hotels – Cafe – Restaurants

And the cuts in indicators by:

• 1% in Diet and non-alcoholic beverages

• 1.7% in Housing

• 2% of durable goods 0.1% in Communications, mainly due to lower prices for telephony and fax equipment

• 1.4% in Leisure – Cultural activities

• 2.3% in Other Goods and Services…/IBNA