The recovery of the economy feeds the trade deficit

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In increase in the trade deficit of the country leads the strong economic recovery, as the imports products and mechanical equipment, outperform exports, which are increasing but at a slower pace compared to imports.

Last October, the country’s international trade deficit increased by 52.8%. It amounted to 2.160 billion euros compared to 1.414 billion euros in October 2020. Excluding petroleum products, it increased by 286.4 million euros or 21.7%, while excluding petroleum products and ships, it increased by 280.5 million euros. or 21.1%.

In particular, from ELSTAT data on freight transactions it appears that:

The total value of imports, amounted to 5.869 billion euros in October 2021 against 4.129 billion euros in the same month of 2020 presenting increase 42.1% (excluding petroleum products increased by 639.1 million euros or 17.9%, while excluding petroleum products and ships increased by 641.7 million euros or 18.1%).

The total value of exports, amounted to 3.708 billion euros compared to 2.715 billion euros in the same month of 2020, showing an increase of 36.6% (excluding petroleum products, it increased by 352.7 million euros or 15.8%, while excluding petroleum products and ships, it increased by 361.2 million euros). euros or 16.3%).

In the 10 months of the year, the total value of imports rose to 51.2 billion euros against 40, 342 billion euros in the same period of 2020, showing an increase of 27%. On the contrary, the total value of exports amounted to 32.401 billion euros against 25, 118 billion euros, showing an increase of 29%.

The trade deficit amounted to 18.840 billion euros against 15.223 billion euros in the 10 months of 2020, showing increase 23.8%.

Reportage: Costas Tsavalos

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