Money transfers up 7.0% y/y in July 2019
In July 2019, money transfers increased 7.0% y/y to US$ 154.5mn, after growing 6.3% y/y in the previous month, according to NBG. From major remitting countries, money transfers were up from Italy (+26.5% y/y, 13.5% of total), Greece (+13.3% y/y, 11.0% of total), USA (+6.7% y/y, 10.3% of total) and Israel (+7.3% y/y, 9.3% of total). Meanwhile, remittances continued to decline from Russia (-9.4% y/y, 25.2% of total) and Turkey (-14.8% y/y, 5.6% of total). Overall, in 7M19 money transfers were up 7.8% y/y to US$ 960.6mn.
Trade deficit was down 16.1% y/y in July 2019
In July 2019, exports grew by 17.5% y/y to US$ 326.8mn, imports were down 4.4% y/y to US$ 762.0mn and the trade deficit decreased by 16.1% y/y to US$ 435.3mn, according to Geostat’s preliminary figures. In 7M19, trade deficit was down 14.2% to US$ 2.9bn as exports increased 12.4% y/y to US$ 2.1bn and imports were down 4.7% y/y to US$ 5.0bn. Detailed foreign trade statistics will be available on August 19, 2019.
