Greek exporters optimistic over export outlook in 2018

Greek exporters welcomed data showing a significant increase of exports to third countries and a shrinking of the country’s trade deficit in November 2017 and said the export sector will end the year with a new historic record, expressing optimism over the outlook for Greek exporters in 2018.

In an announcement, the Panhellenic Exporters Association said restoring domestic stability, combined with a positive climate prevailing in the European economy, paved the way for even better performance in 2018. It called for the support of the State with measures aiming to boost extrovert enterprises, such as boosting their liquidity and fully lifting capital controls.

Exports to EU member-states rose 6.6 pct in November and exports to third countries jumped 25.7 pct in the month, totaling 1.27 billion euros and 1.31 billion euros, respectively. Excluding oil products, exports to the EU grew 4.3 pct and exports to third countries rose 11.4 pct in November.

Exports of oils, alcohol/tobacco and confidential products fell in November (-3.6 pct, -7.0 pct and -7.0 pct, respectively), while all other sectors recorded increases, led by oil products (42.4 pct), raw materials (22.3 pct) and industrial products (15.7 pct).

In the January-November period, four sectors recorded declines compared with the same period in 2016 (oils -24.4 pct, confidential products -2.7 pct, alcohol/tobacco -1.8 pct and machinery -0.8 pct), while significant increases were recorded by the oil products/fuel (30.7 pct), raw materials (27.4 pct), industrial products (17.2 pct) and chemicals (12 pct).