Trade with Greece
69
T
he increase of total exports by 37.9% in
November is also considered to be
impressive by the Minister of Regional
Development and Competitiveness, Michalis
Chrisochoidis, who points out that there are many
dynamic enterprises, which, even under adverse
economic conditions, dare to show the way for
exiting the crisis. The Minister also sees an
impressive drop in the trade deficit, which fell to
44.2%, as the increase in exports was com-
bined with a 19% decrease in imports.
According to the PEA, the shift in the Greek export
model is also due to the fact that the machinery
and transport equipment category (machinery and
electrical equipment, industrial equipment etc.),
with an export value of €259.2 million, threatens to
displace foods from the second place they have
been traditionally holding with exports of €262 mil-
Exports show the
way for exiting the
crisis
Greece’s export model shows a tendency of adapting
to the new conditions prevailing in the global econo-
my - this is the conclusion of the Pan-Hellenic
Exporters Association, after analyzing official data
from the Hellenic Statistical Authority (ELSTAT) con-
cerning the year ended in November 2010, which
show an increase in the exports of machinery by
73.7%, raw materials by 98.7% and industrial goods
by 46.7%. Moreover, the crisis apparently had a posi-
tive effect on the trade balance, as imports were
dramatically reduced in November 2010.
By Evi Papadosifakis
