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May 31, 2020
GREEK NEWS

Greek Exports at Record Highs in 2019 Despite Global Turbulence

greek-exports-at-record-highs-in-2019-despite-global-turbulence

Greece’s export performance set new historical records in 2019, the Panhellenic Exporters’ Association and the Center for Export Research and Studies announced on Friday.

The increase is mostly due to the upward trend of Greek exports to the other nations of the European Union, while export performance to third countries actually decreased.

Specifically, exports to the rest of the EU increased by 6.9 percent compared to 2018, while exports to other countries fell by 5.8 percent.

Exports to other EU member-states now account for fully 55.5 percent of total Greek exports, compared to 44.5 percent for other countries.

“Despite the adverse conditions prevailing in the international environment (trade wars, geopolitical tensions in the Eastern Mediterranean, Brexit), Greek exports were able to stand out with their performances and achieve a historic record for another year,” the Panhellenic Exporters’ Association and the Center for Export Research and Studies stated in their announcement.

”With many sacrifices and faith in their abilities, Greek exporters have maintained their momentum and expanded their footprint in international markets, contributing greatly to the recovery effort of the Greek economy,” they noted.

Greek – Chinese Trade

In specific remarks concerning trade relations between China and Greece, the Piraeus Chamber of Commerce and Industry said on Friday that bilateral Greek-Chinese trade has rebounded and now shows dynamic growth, totaling 4.5 billion euros.

“It is obvious that, despite the temporary adverse conditions as a result of Covid-19, even greater efforts must be made to develop the two countries’ trade relations to the fullest extent possible,” the Piraeus-based Chamber noted.

The value of exports of Greek products to China has begun not only to recover but to follow an extremely impressive growth trajectory.

The value of Greek exports to China actually almost doubled, increasing by 91 percent and reaching 902.4 million euros in 2019, setting a new record.

Petroleum products make up the bulk of Greek products exported to China. In fact, the value of such oil and gas-related exports almost quadrupled, from 114.3 million euros to 443.9 million euros, equaling approximately 50 percent of all Greek exports to China.

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