New record for Greek exports

New record for Greek exports

The year 2017 ended with a new historical record for Greek exports, confirming the estimates of the Pan-Hellenic Exporters’ Association. Despite the unfavourable conditions that prevailed mainly in the first half of the year, Greek exporters managed to stand out with their performance, supporting, in practice, the national economy and the country’s efforts to return to a sustainable development path.

According to a study of the Pan-Hellenic Exporters’ Association (PEA) and the Center for Export Research and Studies (KEEM), on the interim data of ELSTAT, exports, including petroleum products, in the whole of 2017, i.e. in January-December 2017, increased by 13 , 2% to € 28.83 billion from € 25.46 billion in the corresponding period in 2016.

The previous record of extroversion was in 2012, when the total value of Greek exports had reached 27.34 billion euros.

There was another new record of Greek exports, excluding oil prices. In particular, the value of exports -oil products excluded- in the whole of 2017 was up 7.1% or 1.32 billion and reached 19.98 billion euros from 18.65 billion euros. The previous record of extroversion without oil was in 2017 when their total value was set at 18.36 billion euros.

The positive momentum was also reflected in exports in December 2017, when the total value of exports amounted to 2.61 billion euros, compared to 2.33 billion euros in December 2016, recording an increase of 12.1%. Oil products excluded, exports’ results were positive, with a 8.1% increase or by 132.9 million euros more, reaching 1.77 billion euros from 1.64 billion in December 2016.

Commenting on the findings of the analysis, the President of the Panhellenic Association of Exporters Christina Sakellaridi said: “Through their performance, Greek exporters managed to hold the country’s flag high up, against an adverse environment, with the uncertainty about the country’s future – mainly in the first half of the year – and a number of obstacles such as capital controls and high taxation in particular, that undermined the efforts of Greek businesses, present at all times.”…/IBNA