Trade with Greece
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enhancing the liquidity of export-oriented busi-
nesses, exports will be increased in the short run,
decisively contributing to the Greek economy’s
recovery.”
Another, slightly older, study by the Pan-Hellenic
Exporters Association and the Export Research
Centre (KEEM) for the period January-October
2010 allows for some optimism for a year-on-year
increase in exports during 2010, as well as the
adjustment of Greece’s export model.
According to PEA data, this optimism emanated
from the fact that the number of companies listed
in the Association’s Exporters’ Register has
increased by 10%, while there has been a similar
increase of company listings in the Exporter
Registers of local Chambers.
That said, the total value of exports in November
2010 amounted to €1,603.4 million ($2,197.0 mil-
lion) as compared to €1,162.8 million (€1,739.4
million) in the same month of 2009, increased by
37.9%. The corresponding figure, excluding fuels,
increased by €374.2 million or 34.7%.
In contrast, the total value of imports stood at
€3,074.1 million ($4,187.1 million) as compared
to €3,797.5 million ($5,646.8 million) in November
2009, reduced by 19.0%. The corresponding fig-
ure, excluding fuels, decreased by €452.5 million
or 13.8%.
As a result of these changes, the trade deficit amount-
ed to €1,470.9 million ($1,990.1 million) last
November, as compared to €2,634.7 million
($3,907.4 million) in the same month of 2009,
reduced by 44.2%. The corresponding figure, exclud-
ing fuels, decreased by €826.6 million or 37.3%.
In the first eleven-months of 2010, the total value of
imports stood at €14,359.2 million ($19,101.0 mil-
lion) as compared to €13,411.3 million ($18,663.6
million) in the same period of 2009, increased by
