Greece's trade balance deficit posted a further decline of 33.3 percent n January this year, according to provisional figures released on Monday by the independent Hellenic Statistical Authority (ELSTAT).

The decline in the deficit was attributed to a continuing increase in the value of exports and a decline in the value of exports.

According to a provisional report on the country's commercial transactions, the deficit of the trade balance, excluding oil products, in January 2011 recorded a drop of 33.3%. More specifically, it decreased from 1859.1 million euros (2637.4 million dollars) in January 2010 to 1240.5 million euros (1643.2 million dollars) in January 2011.

The total value of imports-arrivals, excluding oil products, in January 2011 amounted to 2381.5 million euros (3171.9 million dollars) in comparison with 2774.5 million euros (3947.7 million dollars) in January 2010, recording a drop of 14.2%.

The total value of exports-dispatches, excluding oil products, in January 2011 amounted to 1140.9 million euros (1528.7 million dollars) in comparison with 915.4 million euros (1310.4 million dollars) in January 2010, recording an increase of 24.6%.