July trade deficit lands at 715 mln as imports post biggest drop on record

EconomyMacroeconomy Tags: ELSTAT, Trade

Greece’s trade deficit plummeted by 63.1 percent in July from a drop of 14.1 percent in June, according to the Hellenic Statistical Authority (ELSTAT).

The nosedive is primarily attributed to the imposition of capital controls (as of June 29) with imports plunging by 32 percent, while exports also fell at a slower pace by 8 percent. The rate of drop in trade deficit is the biggest since 2005 with the a...

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