Exports up 15.0% y/y in October 2018
In October 2018, exports increased 15.0% y/y to US$ 303.0mn, while import growth accelerated to 18.7% y/y and reached US$ 867.9mn and the trade deficit widened 20.7% y/y to US$ 565.0mn, according to GeoStat’s preliminary figures. In 10M18, trade deficit was up 16.4% to US$ 4.8bn as exports increased by 24.5% y/y to US$ 2.8bn and imports were up 19.2% y/y to US$ 7.6bn. Detailed foreign trade statistics will be available on November 19, 2018.
Money transfers up 11.6% y/y in October 2018
In October 2018, money transfers increased 11.6% y/y to US$ 137.2mn, after growing 5.6% y/y in the previous month, according to NBG. From major remitting countries, money transfers were up from Russia (+1.0% y/y, 28.9% of total), Italy (+31.3% y/y, 12.2% of total), Greece (+16.0% y/y, 11.2% of total), USA (+16.9% y/y, 10.5% of total) and Israel (+8.9% y/y, 8.7% of total), while remittances were down from Turkey (-25.3% y/y, 5.5% of total). Overall, in 10M18 money transfers were up 15.5% y/y to US$ 1.3bn.
NBG purchased US$ 10.0mn
On November 16, 2018, the NBG intervened on the FX market and purchased US$ 10.0mn. Overall, during April-November 2018, the NBG purchased US$ 132.5mn on its 12 FX auctions.
