December Exports in Greece Better than Anticipated

by Aggelos Skordas – Feb 10, 2015

Even the most optimistic of projections were surpassed by the Greek exports recorded in December 2014, significantly reducing the decline records of the first nine months of the past year. As the Panhellenic Exporters Association (PEA) announced, the total value of Greek exports for last year surpassed 27 billion euros (as it also happened in 2013), recording a slight 1.4% decrease. Although, if petroleum products -that recorded a significant decline- are excluded from the calculations, the figures show a marginal 0.1% increase.

As PEA and the Center for Exports Research (KEEM) indicate, based on data provided by the Hellenic Statistical Authority (ELSTAT) for December 2014, the value of exports recorded a 4.3% increase to 2.19 billion euros, from 2.1 billion euros in December 2013. Again, excluding petroleum products, growth is surpassing 212 million per month, 16% higher compared to the same month of 2013.

Moreover, PEA predicted that by the end of the year, the total value of exports would be reduced by 2-2.5%, compared to 2013. According to PEA President Christina Sakellaridis, “the miracle of Greek exports proves that there is continuity and especially prospect. It is extremely important that in the policy statements, the government stated as a priority the reform of the country’s fiscal framework and the provision of advantages to relieve households and businesses. Greece should immediately obtain a fair, stable, simplified and mainly pro-development framework, in order to liberate the economy’s productive forces and facilitate Greek and foreign investment.”

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