Trade with Greece
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The top-10 categories of Greek exports to EU coun-
tries
The value of exports during the first 9-months of 2010 increased as compared
to the same period of the previous year, while the data made available by
ELSTAT are painting a rather rosy picture, despite the crisis. The Pan-Hellenic
Exporters Association’s analysis of this data led to some interesting conclu-
sions. In the period January-September 2010, the value of Greek exports
increased by 1.8% year-on-year (from €10,972 million to €11,165 million). In
contrast, if export volume is taken into account, there is an overall drop of
17.1%. This drop is mainly due to the decrease in the volume of agricultural
exports by 52.6% and the significant decrease of fuel exports (-22.7%), which
was not offset by the increase in the export volume of industrial products
(8.7%) and “commodities and transactions not classified by category” (6.2%).
The volume of raw material exports remained more or less unchanged. It
should be noted, though, that export volume data is subject to continuous cor-
rections by customs authorities and ELSTAT, and may not lead to precise and
safe conclusions. Export growth during the first 9-monhts was due to the
increase in the value of exports to most major regions, but above all to a 2.2%
increase in exports to the developed world (OECD countries), which in
January-September 2010 absorbed more than half of their value (58%). As far
as the structure of exports by main product categories is concerned, the drop
in fuel exports by 2% and the stagnation of agricultural product exports (-0.8%)
were mainly offset by an increase in industrial product exports (1.7%), as well
as by the increase in the value of other types of exports: raw materials (8.1%)
and “Commodities and transactions not classified by category” (42.9%).
The following tables present the top-ten types of products exported to
each EU country, along with volumes and quantities.
EXPORT VALUE
RISES IN THE
FIRST 9-MONTHS
OF 2010
