Greek exports record major decline in May

9 July 2016
152 Views

Exports posted a significant decline in May, reflecting to a great extent the impact of the uncertainty from Athens’s months-long negotiations with its creditors, as well as of the industrial action at the ports of Piraeus and Thessaloniki.

According to Hellenic Statistical Authority (ELSTAT) figures issued on Friday, exports contracted 12.4 percent compared with May 2015, amounting to 2.02 billion euros. The decline came to 6.4 percent not including fuel products, as exports recorded their first decline in the last four months.

“This decline, besides the general problems and the continued uncertainty in the Greek economy, is partly due to the situation in the country in recent months, as the industrial action at the ports of Thessaloniki and Piraeus started in May,” noted the Greek International Business Association (SEVE) in a statement.

Panhellenic Exporters Association chief Christina Sakellaridi added that “an entire year has passed since the capital controls were imposed without normality having been restored to the market. The only favorable impact is expected from the repayment of the state’s dues to private parties, the activation of the investment incentives law, the restoration of cheap liquidity flows to banks, the developments concerning bad loans and privatizations, and the attraction of new investments.”

You may be interested

Turkish deputy-Prime Minister accuses Greece of oppressing religious minorities in latest Turkish tirade against Greece
GREECE
shares63 views
GREECE
shares63 views

Turkish deputy-Prime Minister accuses Greece of oppressing religious minorities in latest Turkish tirade against Greece

makis - Nov 17, 2017

Turkish Deputy Prime Minister Bekir Bozdag accused Greece of imprisoning Muslim Imams, despite the country being a member of the…

Greek PM says country would rely on itself to face flood disaster
POLITICS
shares78 views
POLITICS
shares78 views

Greek PM says country would rely on itself to face flood disaster

makis - Nov 17, 2017

Greek PM Alexis Tsipras thanked European countries for offering to help after the flash floods in western Attica, Wednesday, which…

US meteorologist explains deadly storm that flooded Greek towns
GREECE
shares99 views
GREECE
shares99 views

US meteorologist explains deadly storm that flooded Greek towns

makis - Nov 17, 2017

“When the Atlantic hurricane season begins to quiet down in late October and November, it’s time to cast an eye…

Leave a Comment

Your email address will not be published.