Greek exports to the EU up 4.4 pct in 2016

Greek trade balance figures released by Hellenic Statistical Authority on Tuesday fully confirmed estimates made by the Panhellenic Exporters Association of breaking -for the second successive year- an export record (excluding oil products), the association said in a report.

The Panhellenic Exporters Association said that Greek exports rose to 18.59 billion euros last year, from 18.36 billion in 2015 despite pressures appearing in certain export sectors in December.

Greek exports to EU member-states grew 1.8 pct in 2016, but fell 6.1 pct to third countries. Excluding oil products, Greek exports to the EU grew 4.4 pct in 2016, but fell 4.8 pct to third countries, reflecting changes in the euro/dollar exchange rate. In December, only two sectors recorded a decline in 2016 (olive oil -32.5 pct and machinery -24.8 pct), while the remaining eight sectors moved upwards, led by the oil products sector (29 pct) and food (11.3 pct). In 2016, six sectors fell (raw materials -1.0 pct, oil products -9.1 pct, industrial products -3.9 pct, machinery -0.8 pct and confidential products -21.6 pct) and four moved upwards (food 9.8 pct, tobacco 10 .5 pct, chemicals 0.5 pct and various industrial products 6.9 pct).

The statistics service said that the Greek trade deficit grew 4.8 pct in December as imports grew more than exports in the last month of 2016.The statistics service, in a report, said that the country’s trade deficit grew 4.5 pct on average in 2016 as import grew slightly and exports fell in the year.

The value of import-arrivals totaled 3,868 billion euros in December, up 3.7 pct from the same month in 2015 (excluding oil products, the value of imports grew 1.2 pct). The value of export-deliveries totaled 2.301 billion euros in December, up 3.0 pct from the same month in 2015 (excluding oil products, the value of exports fell 5.0 pct).The country’s trade deficit amounted to 1.566 billion euros in December, up 4.8 pct from December 2015 (excluding oil products the trade deficit jumped 11 pct).

In the January-December 2016 period, the value of imports totaled 43,963 billion euros, up 0.8 pct from the previous year (excluding oil products imports grew 5.9 pct). The value of exports totaled 25.411 billion euros in 2016, down 1.8 pct from the previous year (excluding oil products exports grew 1.2 pct).

The country’s trade deficit amounted to 18.551 billion euros in 2016, from 17.745 billion in 2015, an increase of 4.5 pct (excluding oil products the trade deficit grew 11.8 pct).