Greece’s trade deficit shrank by 8.8 pct in August reflecting a big decline both in imports and exports as a result of the imposition of capital controls in the country, according to Hellenic Statistical Authority.

Based on a report released by the Hellenic Statistical Authority, the total value of imports-arrivals, in August 2015 amounted to 3008,8 million euros (3341,6 million dollars) in comparison with 3301,8 million euros (4383,7 million dollars) in August 2014, recording a drop, in euros, of 8,9%.The corresponding change excluding oil products recorded a drop of 172,5 million euros or 8,4%.

The total value of exports-dispatches, in August 2015 amounted to 1893,8 million euros (2115,8 million dollars) in comparison with 2078,8 million euros (2776,5 million dollars) in August 2014, recording a drop, in euros, of 8,9%. The corresponding change excluding oil products recorded an increase of 78,2 million euros or 6,8%.

The deficit of the trade balance, in August 2015 amounted to 1115,0 million euros (1225,8 million dollars) in comparison with 1223,0 million euros (1607,2 million dollars) in August 2014, recording a drop, in euros, of 8,8%. The corresponding change excluding oil products recorded a drop of 250,7 million euros or 27,5%.

The total value of imports-arrivals, for the 8-month period from January to August 2015 amounted to 28337,1 million euros (31411,7 million dollars) in comparison with 31452,2 million euros (42772,8 million dollars) for the corresponding period of the year 2014 recording a drop, in euros, of 9,9%. The corresponding change excluding oil products recorded a drop of 417,5 million euros or 2,0%.

The total value of exports-dispatches, for the 8-month period from January to August 2015 amounted to 17241,1 million euros (19232,2 million dollars) in comparison with 17835,9 million euros (24391,9 million dollars) for the corresponding period of the year 2014, recording a drop, in euros, of 3,3%. The corresponding change excluding oil products recorded an increase of 1320,8 million euros or 12,3%.