Greek economy’s shift towards activities primarily
aimed at enhancing the country’s position in over-
seas markets.
Moreover, more traditional sectors, such as tex-
tiles, fuels, metals, industrial minerals, and food
and beverages, which account for a significant
portion of both total exports and output, show
increased export performance.
More specifically, the export performance of the
textile sector improved by almost 20 percentage
points, despite the huge contraction it had suf-
fered since 2005 mainly because of China’s entry
in the European market, which meant that the
sector now accounts for a small share of total
exports and output. However, the surviving part of
the Greek textile industry has turned to the pro-
duction of branded goods (apparel and acces-
sories), thus substantially enhancing its extrovert
orientation.
Finally, the extroversion of the fuels sector has
substantially increased in the past decade, and
this is to a great extent linked, among others, to
the technological upgrade of the sector. Exports
have increased, both as a percentage of the sec-
tor’s output (mainly imported fuel, which is
processed and re-exported), and as a percentage
of Greece’s total exports.
Export growth (excluding oil
products) in 2017
In terms of hard data, according to analysis by the
Pan-Hellenic Exporters Association and the
Export Research Centre (KEEM), the total value
of exports rose by 3% in December 2016 (to 2.3
billion euros, from 2.23 billion euros in December
2015). When petroleum products are excluded,
the continuous (for 5 months) rise in exports is
interrupted, as their value fell by 5% (or by 84.2
million euros).
On a year-on-year basis, the total value of exports
fell marginally to 25.41 billion euros in 2016 from
25.87 billion euros in 2015, reduced by 1.8%
Trade with Greece
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