2015, because of a drop in net
transport receipts (mainly sea
transport receipts, which fell to 292
million euros from 631 million euros
in January 2015). Travel receipts
fell by 4.7% and the number of non-
residents’ arrivals was reduced by
7.8% As a result, the value of
exports of goods and services fell
by 25.8% and the corresponding
value of imports fell by 21.8%.
•In January 2016, bank lending and
deposits continued to decline, as
outstanding household and busi-
ness loans decreased by -2.1%
year-on-year, while total deposits
fell by 1.2 billion euros on a month-
ly basis, because of the reversal of
the increase in business cash bal-
ances that was recorded in
December and was mainly due to
accounting purposes.
•Based on a survey by the General
Confederation of Professionals,
Craftsmen and Tradesmen and the
Marc consultancy, 21,000 small
businesses are expected to shut
down in the next six months, lead-
ing to a loss of 40,000 to 45,000
jobs (employees and employers);
four out of ten are unable to meet
their tax and social security obliga-
tions; three out of four see their liq-
uidity evaporate; one out of two
cannot pay salaries in due time;
and more than 50% of respon-
dents estimate that growth will
resume after 2020. The average
drop in turnover stood at 20.6%,
while 43.1% of these small and
micro enterprises recorded a loss
in 2015. Once again, almost two out
of three businesses saw demand
shrink by 63.4% and orders by
69.7%.
•Greek merchant vessel tonnage
decreased for a 5th consecutive
month in December 2015 (-1.2%),
showing that the first year-on-year
decrease of the past decade was
not coincidental at all.
The economic climate and the
economy’s possible entry into a
new recession cycle, will certainly
be aggravated by the mix of meas-
Trade with Greece
24
