Trade deficit down 34.2% pct in Jan-Oct

Greece’s trade deficit shrank by 38.6 pct in October this year for a 34.2-pct decline in the trade deficit in the January-October period, the Hellenic Statistical Authority announced on Monday.

The statistics service, in a report, attributed this decline to higher exports and services and a fall in imports as a result of the sharp economic recession in the country. The value of import-arrivals totaled 3.029 billion euros in October, down from 3.618 billion euros last year, for a decline of 16.3 pct, while the value of export-deliveries totaled 1.591 billion euros from 1.277 billion euros over the same period, respectively, for an increase of 24.6 pct.

The trade deficit fell to 1.438 billion euros in October, down from 2.341 billion euros in October 2009, a decline of 38.6 pct.

Imports totaled 29.590 billion euros in the January-October period this year, from 37.832 billion euros in 2009, a decline of 21.8 pct, while exports rose to 12.756 billion euros from 12.248 billion euros over the same period, respectively, for an increase of 4.1 pct.

The trade shortfall in the January-October period totaled 16.834 billion euros this year, from 25.584 billion euros in 2009, for a decline of 34.2 pct