Trade deficit up to €19.4 bln by November 2007

According to data from the National Institute of Statistics (INS), the trade deficit widened 52 percent year-on-year, as exports only covered for 58 percent of imports. This high annual growth was triggered in the first half of 2007, when the trade deficit widened by a staggering 65.2 percent year-on-year.

The trade deficit is the main factor impacting on the widening of the current account deficit, which rose 71.8 percent year-on-year in the first 10 months of 2007, up to €13.3 bln.