Exports decline, deflation lingers
- Written by E.Tsiliopoulos
The total value of Greek exports declined year on year by 9.4% in January 2014 to 3,752.5 million euros as against 4,142.6 million euros in 2013, according to statistical authority ELSTAT. The decrease, if petroleum related products are deducted from the equation, stands at 3.3%.
Total export value during the same period registered a decrease to 2,128.8 million euros as against 2,224.5 million euros in the same month 2013, a loss of 4.3%. During the twelve month period February 2013 – January 2014, overall import value decreased by 6.5% over a year before, while overall export value fell by 1.6%.
Meanwhile, ELSTAT also noted that deflationary tendencies lingered in February 2014, with consumer price index dropping by 1.1% relative to the month before.
Prices dropped in: food and beverages by 1.3%, apparel and footwear by 2.9%, in housing by 2.2%, durable and household goods by 0.2%, transportation by 3.4%, recreation by 2.9%, education by 3.9%, hotels, restaurants, bars by 2.7%, and miscellaneous services by 4.1%.
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