Despite the 3.93 per cent increase in food (including olive oil) and livestock exports in November on a yearly basis, the total value of Greek products heading abroad continued to decline for a second month, which is attributed to the country’s credibility deficit.
Hellenic Statistical Authority (ELSTAT) data showed a 3.1 per cent annual decline, confirming what Greek exporters have been saying: that orders from abroad are being cancelled as clients fear Greek producers will not be able to fulfil them. While exports within the European Union posted a 3.9 per cent rise, the value of products going to third countries slumped by 13.4 percent from November 2010.
Raw materials dropped by 28.47 per cent, but industrial products climbed by 19.92 per cent.
Source: Kathimerini
