Balance of trade

Current account deficit widens in November

Greece's current account balance showed a wider deficit in November compared to the same month a year ago, on the back of a larger trade gap and a weaker primary income balance, the Bank of Greece said on Monday.

Central bank data showed the deficit at 1.417 billion euros from a deficit of 1.125 billion euros in November 2017.

BNR's Vasilescu: The leu declined fast, after 1 January, but not as fast as to create concerns

The decline of the national currency in relation to the euro is 0.6 percent, and only in the situation in which it declines over 4-5 percent the Central Bank analysis rigor intervenes, National Bank of Romania (BNR) strategy consultant Adrian Vasilescu maintains.

Exports key to recovery

Greece did not just go bankrupt because of its runaway budget deficit. Another important factor that contributed to the economic meltdown that has resulted in eight years of crisis, was the country's massive trade deficit - in other words, the fact that Greece was importing goods worth much more than the value of the goods it exported.

IMF: Countries must avoid protectionism 'at all costs'

The International Monetary Fund warned world leaders on July 28 to avoid resorting to protectionist measures "at all costs" due to the damage it would cause to their own and the global economy.

At a time when President Donald Trump has repeatedly blamed trade for U.S. economic woes, and threatened to impose barriers to imports, the IMF said such policies would not work.

Turkey's May trade deficit surges nearly 50 pct as gold imports skyrocket

Turkey's foreign trade deficit soared 49.5 percent in May due to a sharp increase in gold imports despite robust car exports, preliminary data from the Customs and Trade Ministry showed on June 2. 

The trade deficit rose to $7.65 billion in May, according to the ministry's data, which was compiled by Reuters. 

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