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Trade with Greece
T
he significant growth of exports to the enlarge-
ment countries provided a boost to total exports
to EU member states. As shown by provisional
data by the Hellenic Statistical Authority, which were ana-
lyzed by the Export Research Centre (KEEM), exports to
the EU-27 increased by 1.5% in 2014, a fact which is due
to a hefty 7.8% increase in exports to the enlargement
countries, while the growth of exports to the EU-15 stood
at approximately 0.6%. Exports to Euro zone countries
increased by 2.2%.
There was also a 1.8% increase in the exports to the other
countries of the OECD, and, in particular, Iceland, Norway,
Switzerland and Turkey.
Overall, the value of exports fell by 1.5% in 2014, to €27 bil-
lion from €27.3 billion in 2013, whereas if petroleum prod-
ucts are excluded, this decrease turns into a marginal
increase of approximately 0.1%.
According to an analysis by the Panhellenic Exporters
Association and the Export Research Centre (KEEM), the
slowing of the downward trends, which were much stronger
in the first nine-months of the year (January-September),
was due to the growth of Greek exports recorded during the
last three months. Third Countries took up 52% of the total
value of exported goods, while EU countries accounted for
the remaining 48%. If, however, petroleum products are
excluded, this ratio is emphatically reversed in favour of EU
countries (64.2%, as compared to 35.8% for Third
Countries).
The remarkably good performance of Greek exports in the
face of major adversities, exceeded even the most optimistic
forecasts, demonstrating their ability to capture world market
shares even when international trade conditions are only
marginally favourable.
The 1.5% year-on-year drop of exports in 2014, to
€26,600.2 million from €27,316 million in 2013, is the result
of differentiations in the volume of exports, which tended to
increase in regard to the countries of the EU-27 and
decrease in regard to Third Countries.
Despite adverse conditions,
Greek exports held on to
substantial market shares
The top-10 categories of Greek exports to EU countries
In 2014, Greek exports to the countries of the European Union
exceeded even the most optimistic forecasts, as they managed
to hold on to substantial foreign market shares, despite
the adverse conditions prevailing in the Greek economy.
