Greece’s trade deficit rose to EUR 2.084 billion in March of 2019 from EUR 1.627 billion in the same month of the previous year. Exports fell 3.6 percent year-on-year to EUR 2.797 billion, as sales to EU countries dropped 2.9 percent to EUR 1.478 billion and those to countries outside the EU declined 4.4 percent to EUR 1.318 billion. Also, imports jumped 7.8 percent to EUR 4.881 billion, boosted by purchases from non-EU countries (+18.5 percent to EUR 2.380 billion), while imports from EU countries went down 0.7 percent to EUR 2.501 billion. Considering the first quarter of the year, the trade gap widened by 12 percent to EUR 5.963 billion from EUR 4.948 billion a year earlier, as exports went up 1.6 percent to EUR 7.994 billion while imports rose at a faster 5.8 percent to EUR 13.958 billion. Balance of Trade in Greece averaged -2277.28 EUR Million from 2001 until 2019, reaching an all time high of -716.90 EUR Million in July of 2015 and a record low of -4328.60 EUR Million in March of 2007.
Balance of Trade in Greece is expected to be -1500.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Greece to stand at -2100.00 in 12 months time. In the long-term, the Greece Balance of Trade is projected to trend around -1510.00 EUR Million in 2020, according to our econometric models.