In April 2023, a decline in exports was recorded, which interrupted the growth trend of the last 26 months. Although at the level of the first quarter Greek export remains elevated compared to the corresponding period last year, while imports are declining, resulting in a decrease in trade deficitthe break in the uptrend worries the export world. And this is because important export destinations for Greek products, such as Germany, for example, have entered a recession, while Organization for Economic Cooperation and Development (OECD) predicted a slowdown global development in 2023 to 2.7% from 3.3% in 2022.

According to data released yesterday by Statistics Greece (ELSTAT), the value of Greek exports in April 2023 was 3.95 billion euros, compared to 4.13 billion euros in April 2022, down 4.3%. It is worth noting that from February 2021 to March 2023, the value of Greek exports increased compared to the corresponding month of the previous year, including oil products. Excluding petroleum products, the value of Greek exports fell by 2.8%.

However, the downward trend in April did not greatly affect the overall picture of Greek exports, as the first four months of 2023 ended with a positive sign. In particular, the value of Greek exports in the period from January to April 2023 amounted to 15.67 billion euros, an increase of 12% compared to the corresponding period in 2022. Excluding oil products, the value of Greek exports also recorded an increase in the first quarter. 2023 by 8.9% compared to the first quarter of 2022 and amounted to 12.02 billion euros.

Worrying as the OECD “sees” global growth slowing to 2.7% in 2023 from 3.3% in 2022.

The value of imports decreased in April 2023 by 11.8% compared to April 2022 and amounted to 6.10 billion euros. The value of imports also recorded a four-month decline, albeit slightly less, at 1.9% to 26.96 billion euros. The trade deficit formed in April 2023 in the amount of 2.12 billion euros, recording a decrease of 22.9%, and in the period from January to April 2023 it formed in the amount of 9.29 billion euros, decreasing by 20.7 % compared to the corresponding period in 2022

Industries that recorded a decline in exports in April 2023 compared to April 2022 were petroleum products by 7.2%, manufactured goods by 18.5%, chemicals by 9.5%, raw materials by 10.1% and non-classified products by 37.6%. On the contrary, the export of fats and oils increased by 79%, beverages – tobacco – by 19.5%, machinery – vehicles by 4.3% and foodstuffs by 1.5%.