Exports account for more than to per cent of the Greece’s gross domestic product, or more than 20 billion euros on an annual basis, recording a 13 per cent growth rate, the Panhellenic Exporters Federation said this week.
The Federation, in a report over export trends in the January-August period, said Greek exports grew by 11 per cent (18bn euros) last year, while OECD revised its estimates upwards to a 9.4 per cent growth rate, from an initial forecast of 6 per cent. Presenting the report, Christina Sakellaridi, president of the Federation said the figures “confirmed the importance and significance of exporting business activity in an effort towards the recovery of the Greek economy”.
Greek exports – excluding oil products – surpassed 20.5bn euros in the September 2010 to August 2011 period, for an increase of 13.3 per cent compared with the previous 12-month period. Exports grew 38.6 per cent in August compared with the same month last year, to 1.666bn euros, while exports, excluding oil products, grew 0.9 per cent to 1.075bn euros.
The August export figures represent: a 32 per cent rise in fuels / oil products, a 42.5 per cent increase in confidential products, a 15 per cent rise in machinery/transport, a 13 per cent increase in industrial products and a 0.08 per cent rise in other industrial goods. On the other hand, tobacco/beverage fell 13.4 per cent, oils were down 9.0 per cent, chemicals fell 6.3 per cent, foods were down 3.7 per cent and raw materials fell 0.5 per cent. Imports, excluding oil products, totalled 2.349 billion euros in August, up 1.0 per cent, but in the 12-month period to August 2011, imports were down 13 per cent. (AMNA)
Source: Athens News