Basic HTML Version
export practices; creation of the new trade.gov.gr
website that will offer information, networking and
instructions on exports and financing tools, in
cooperation with the Ministry of Foreign Affairs;
countable results, so that the funds available to
HEPO are utilized to the enterprises' best inter-
est.
As a result of this activity, the Hellenic Foreign
Trade Board (HEPO) has scheduled a larger
number of individual actions than last year, i.e.
65, and is aiming at distant markets, such as
Kazakhstan, Brazil and Jeddah, remaining at the
same time focused on the US and Russia (where
Greek exports have grown substantially during
the past few years).
Furthermore, the Board is waiting for the approval
of the proposal it submitted, together with the
Hellenic Management Association (HMA), to the
Ministry of Labour, for the implementation of a
training programme for 7,000 entrepreneurs.
Imports
Greek imports took a plunge in 2011, owing to the
recession and the slump in domestic demand.
Last year, Greece imported goods of a total value
of 43.27 billion euros, compared to 48.1 billion
euros in 2010, i.e. a reduction of 10.05%.
Excluding petroleum products, imports fell by
13.2% (from 36.7 billion euros in 2010 to 31.8 bil-
lion euros in 2011).
As a result, the trade deficit, excluding petroleum
products, amounted to 15.87 billion euros (21.92
billion US dollars) during the period January-
December 2011 compared to 22.09 billion euros
(29.16 billion US dollars) in the same period of
2010, reduced by 28.2%.
As compared to 2009, imports fell by 13.05%,
from 48.76 billion euros in 2009 to 43.27 billion
euros in 2011. The drop is even larger when
petroleum product imports during the past two
years are excluded (-23.3%, to 31.88 billion euros
in 2011 from 41.55 billion euros in 2009).
The trade balance has significantly improved
since 2009, as the deficit was reduced from 35.08
billion euros to 20.82 billion euros last year (down
by 40.65%). Excluding petroleum products, the
trade deficit in the period 2009-2011 was reduced
by 43.63%.
It should be noted that Greek exports now
account for 51.8% of total imports, another 10-
year record. In 2009, the ratio of exports to
imports stood at 29.5%.
Excluding petroleum products, the ratio of exports
to imports has risen to 50.2% in 2011 (from
32.22% in 2009).
Trade with Greece
48