Greece sees new increase in trade deficit as imports rise

A notable rise in Greece’s trade deficit was recorded in August by the Hellenic Statistical Authority (ELSTAT) as there was a sharp increase in imports.

According to ELSTAT, Greece’s trade deficit rose to 31.3 percent in August, totalling nearly 3.65 billion euros for the month, compared with to just under 3.2 billion in August, 2016. 

Despite the rise in the country’s trade deficit, a slight rise in exports was recorded as ELSTAT reported a 3.5 percent year-over-year increase in outbound shipments this August.

Over the first eight months of 2017, Greece’s trade deficit increased by 20.4 percent, and has reached 14.8 billion euros.