An increase of 70.4% marked trade deficit September, especially import grow at a much higher rate than exportwhich is mainly due to its high dependence Greece from imports of energy products and a number of raw materials.

While exports are at a new all-time high, they can in no way exceed imports. Of course, as with imports, the increase in the value of exports is of course due to unrestricted economic and social activity due to the lifting of coronavirus measures in the vast majority of markets, but also to the increase in the selling price of exported products.

According to data released yesterday Hellenic Statistical Office (ELSTAT)imports in September, including oil products, amounted to 8.33 billion euros, an increase of 42.2% compared to September 2021. Excluding oil products, the value of imports increased by 22.9% compared to September 2021. At the same time, exports, including oil products, amounted to 4.72 billion, up 26.3% from a year ago.

As a result of the above, the trade deficit in September 2022 amounted to USD 3.60 billion, having increased by 70.4%. Excluding petroleum products, the increase in the trade deficit amounted to 30.3%.

At the nine-month level, the trade deficit stood at $27.3 billion, up 62.3% from the January-September 2022 period. The corresponding size without oil showed an increase of $5.65 billion, i.e. by 41.1%.

The above is the result of the formation of the value of imports to 67.85 billion USD between January and September 2022, an increase of 48.9%. Exports for the same period amounted to 40.55 billion US dollars, an increase of 41.1%. Excluding oil products, it is noteworthy that, despite the pandemic and the war in Ukraine, exports in the nine months of January-September are moving up compared to 2021, to 25.94 billion from 20.95 billion, i.e. increased by 4.99 billion or 23.8 billion%.

The dynamics of exports by main sectors for the nine months was as follows:

• Petroleum products: 15.08 billion compared to 7.85 billion last year, up 92.1%.

During the same period, exports amounted to $4.72 billion, an increase of 26.3% compared to last year.

• Food: to 5.19 billion from 4.32 billion, up 20.1%.

• Industrial goods: to 6.24 billion from 4.5 billion, up 38.6%.

• Chemical industry: to 4.51 billion from 4.22 billion, an increase of 6.9%.

• Cars: $3.54 billion this year in nine months from $2.78 billion last year; an increase of 27.2%.

• Other manufactured goods: also up 27.2%, with exports valued at $2.70 billion in the nine months of this year from $2.12 billion last year.

• Raw materials: up 7.6% to 1.29 billion from 1.20 billion last year.

• Beverages and tobacco products: 817.7 million against 699.4 million last year, an increase in price by 16.9%.

• Oils: up 12.5% ​​to 618.4 million from 549.8 million last year.