Trade with Greece
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economies and world trade, while export growth
continues to be hindered by the lack of adequate
financing, increased uncertainty, and the persist-
ence of counter-incentives to investment. That
said, the latest report by the Bank of Greece
points out that demand-side conditions were
favourable for Greek products, while Greek
exports preserved the gains from the drop in oil
prices and the improvement of competitiveness
during 2010-2015.
It is also noted that the exports of goods
increased in real terms, while incoming tourist
traffic recovered in the last months of 2016.
Moreover, shipping also seems to have partly
regained its dynamism.
In 2017, both the global economy and world trade
are expected to recover, with positive effects on
external demand. The loss of competitiveness
during 2016 did not offset the positive impact on
exports from the competitiveness gains of the
previous years.
Export growth will enable the improvement of
export quality, also helping Greek businesses
consolidate their position in foreign markets for
goods and services, and penetrate new ones.
Moreover, the anticipated increase in consump-
tion and investment is expected to push imports
up, making it even more necessary to boost
exports, in order to maintain an improved trade
balance.
Export growth will be sustained in 2017, provided
that businesses get better access to finance and
