Trade deficit 29.7% down

Greece's balance of trade deficit, not calculating fuels, fell by 29.7 percent in February 2011 and came to 1,463 million euros from 2,082 million euro in February 2010, according to figures released on Tuesday by Greece's independent statistical authority ELSTAT.
For the two-month January-February 2011 period, the trade deficit declined 34.1 percent and came to 2,781 million euro, down from 4,218 million euro in the same period last year.

The decline of the trade deficit in February was the result of a 14.8 percent drop in imports-arrivals and a 15.38 percent increase in exports-dispatches. Over the two months, the decline in imports was 17 percent while the increase in exports, not counting fuels, was 20.2 percent.

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