The European Commission (EC) has revealed Italy continues to be the most important destination for Greek exports and services.
Despite exports breaking new records last year, not including oil products, president of the Panhellenic Exporters Association, Christina Sakellaridi, told a general assembly of the Bank of Greece that there was no time to celebrate as there is still uncertainty.
“At a time when the European economy – the largest market for Greek products – is recovering, Greece cannot afford to lose another opportunity to exit the crisis,” Ms Sakellaridi said.
According to the EC, in 2017 Greek exports are expected to be the main opportunity for the country’s economic recovery.
Estimated to rise by 3.6 per cent, with a further projected increase of 4.0 per cent in 2018, exports will result in an additional revenue of 1.5 per cent of GDP annually.
In 2016 as a whole, Greek exports within the EU grew by 2.9 per cent, the main consumers following Italy being Germany, Cyprus, Turkey, Bulgaria, the United States, the United Kingdom, Lebanon, Romania, and Egypt.
Statistics show exports of farm products recorded the most growth, rising by 7.6 per cent in 2016, followed by industrial chemicals, smoked fish, rice, and hygiene products.