Greece's trade balance deficit dropped by 36.4 percent in March this year, resulting in a 33.4 percent decline for the first quarter of 2011, fuelled by rising exports and declining imports due to decreasing consumer demand, the independent Hellenic Statistical Authority (ELSTAT0 announced on Thursday in a report on the country's commercial transactions.
The deficit of the Trade Balance, excluding oil products, for the 3-month period from January to March 2011 amounted to 4609.5 million euros (6263.2 million dollars) in comparison with 6917.5 million euros (9503.4 million dollars) for the corresponding period of the year 2010, recording a drop of 33.4%.

The total value of exports-dispatches, excluding oil products, for the 3-month period from January to March 2011 amounted to 3651.5 million euros (5011.1 million dollars) in comparison with 3244.6 million euros (4492.1 million dollars) for the corresponding period of 2010, recording an increase of 12.5%.

The total value of imports-arrivals, excluding oil products, for the 3-month period from January to March 2011 amounted to 8261.0 million euros (11274.3 million dollars) in comparison with 10162.1 million euros (1399.,5 million dollars) for the corresponding period of 2010, recording a drop of 18.7%.

The total value of imports-arrivals, excluding oil products, in March 2011 amounted to 3016.7 million euros (4210.9 million dollars) in comparison with 3999.5 million euros (5410.6 million dollars) in March 2010, recording a drop of 24.6%.

The total value of exports-dispatches, excluding oil products, in March 2011 amounted to 1305.9 million euros (1833.7 million dollars) in comparison with 1311.7 million euros (1785.1 million dollars) in March 2010, recording a drop of 0.4%.

The deficit of the trade balance, excluding oil products, in March 2011 amounted to 1710.8 million euros (2377.2 million dollars) in comparison with 2687.8 million euros (3625.5 million dollars) in March 2010 recording a drop of 36.4%, according to provisional data.