Both exports and imports decline steeply in June

Greek exportsdropped 9 percent year-on-year in June, but the country's trade deficit narrowed 22.9 percent because imports dropped even more, according to preliminary data compiled by the independent statistics authority ELSTAT.
This seemingly good news masks worries that global trade activity is slowing, at least partly because of the US-China trade war, and a recession is looming. German growth turned negative in the second quarter of 2019.
Total exports in June came to 2.76 billion euros, compared to 3.03 billion in June 2018, while imports stood at 4.28 billion, a drop of 14.5 percent from last June's 5.05 billion.
For the first half of the year, exports rose 2.2 percent year-on-year, to 16.82 billion, while imports rose 4.8 percent, to 27.7 billion. This brought the first-half trade deficit to nearly 10.9 billion, or 8.8 percent higher than last year's.
Raw...