Panhellenic Federation of Exporters: Greek exports grew significantly in September

Greek exports grew significantly in September, covering a large part of the pressure felt in the first half of the year, the Panhellenic Federation of Exporters said.

In an analysis of provisional data released by Hellenic Statistical Authority on the country’s merchandize trade in September, the Federation said the value of exports grew 16.6 pct το 2.35 billion euros, from 2.05 billion in September 2015. A rebound in international oil prices helped in the increase of exports in September, but almost all sectors recorded an increase in exports. The value of exports excluding oil products grew by 12 pct in September compared with the same month in 2015.

This development helped to reduce losses suffered in the previous months of 2016 to 3.7 pct (18.56 billion euros from 19.28 billion in the nine-month period). In the January-August period, the value of exports was down 6.3 pct compared with 2015.

Excluding oil products, exports grew 1.0 pct in the nine-month period, after falling by 0.5 pct in the first eight months of the year.

Exports to EU member-states grew 11.6 pct, while exports to third countries rose 23.3 pct. Excluding oil products, exports to EU grew 12.2 pct and exports to third countries rose 11.7 pct.

In the nine-month period, Greek exports to EU countries grew 0.9 pct, but fell 9.4 pct to the rest of the world.

Excluding oil products, exports to EU countries grew 4.1 pct and exports to third countries fell 5.4 pct.
All export sectors grew in September, for the first time in two years, led by oil products (+28.5 pct), machinery (+25.5 pct) and raw materials (+23.7 pct), followed by chemical products (+6.1 pct) and industrial products (+6.3 pct).

Ιn the nine-month period, six out of 10 sectors still record losses.

Imports grew 4.2 pct in September to 3.71 billion euros, while excluding oil products imports rose 3.4 pct. In the nine-month period, imports rose 0.5 pct to 32.06 billion euros, while excluding oil products, imports grew 9.8 pct compared with the same period in 2015.

The country’s trade deficit grew 7.1 pct in the nine-month period to 13.5 billion euros, compared with 2015, while excluding oil products the deficit jumped 21.7 pct.