Hellenic Statistical Authority (ELSTAT), in a report released on Friday, said that Greek trade deficit jumped 21.9% in May. The increase reflects a full reversal of trend in Greek merchandise trade, with exports continue falling and imports rising.

ELSTAT said that the trade deficit also grew by 9.5% in the first five months if the year.

According to the statistics service, the value of import-arrivals totaled 3.974 billion euros in May, up 2.8% compared to the same month last year (excluding oil products the value of imports grew 7.8%).

The value of export-deliveries totaled 2.250 billion euros in May, down 8.3% from May 2013 (excluding oil products the value of exports rose 1.5%).

The trade deficit totaled 1.724 billion euros in May, up 21.9% from 1.415 billion in May last year (excluding oil products the trade deficit rose 16.4%).

In the first five months of 2014, the value of imports totaled 19.488 billion euros, from 19.630 billion euros in May 2013, marking a decline of 0.7% (excluding oil products imports grew by 7.5%).

The value of exports totaled 10.652 billion euros from January-May 2014, from 11.557 billion euros last year, marking a decline of 7.8% (excluding oil products exports fell 4.9%).