Drop in Greek exports in August – Food still on the rise

Drop in Greek Exports

According to the latest data issued by the Hellenic Statistical Authority and analyzed by the Institute of Export Research and Studies (ΙΕRS) established by the Greek Exporters Association (SEVE), Greek exports regarding August 2020 experienced a negative trend. Namely, Greek exports were down by €342.4 million, i.e. 14.2% amounting to €2,063.4 million compared to €2,405.8 million in August 2019.
Imports were also down by €813.6 million, i.e. 19.6%, amounting to €3,333.5 million and resulting in a €1,270.1 million deficit at the trade balance, but decreased by €471.2 million, i.e. 27.1% compared to the same month in 2019.
Examining the data for the January-August 2020 period, there is a significant decrease in Greek trade in goods. In the case in point, Greek exports recorded a decrease of €2,679.3 million, i.e. 11.9%, while imports amounted to €31,558.6 million, recording a decrease of €5,591.1 million, i.e. 15.1%.

Greek food continue to boost exports

At sectoral level, food and chemicals remained the driving force behind Greek exports, recording an upward trend throughout the reported eight months. In fact, Greek food exports were up by €352.4 million, i.e. 11.2%, while chemicals increased by €522.0, i.e. 19,7%. Exports of beverages and tobacco (€32.9 million, i.e. 6.6%) and fats and oils (€100.8 million, i.e. 38.0%) were also increased.
As regards to export destinations for Greek products, 57.8% was sent to Member States of the EU (with the exception of the United Kingdom) and 42.2% to third countries.

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