BUSINESS

Wide range of concerns for Greece’s exporters

TAGS: Economy

The slowdown in international trade, the prospect of Britain leaving the European Union, global oil rates and the monetary policies of the Fed and the European Central Bank are the main concerns of Greek exporters.

Of course they are also worried about the domestic economic situation, as they see that the uncertainty, high taxation and delays in the implementation of structural reforms are discouraging investment, according to a trade confidence survey conducted among exporters by the Greek International Business Association (SEVE) and logistics giant DHL.

Despite the adverse environment, respondents were reservedly optimistic about the course of sales, with the trade confidence index, which measures the expectations of Greek exporters, came to 89.7 points for the second half of 2016 – not very far from the 100-point level that separates pessimism from optimism, but still in negative territory.

As regards local economic conditions, 54 percent of enterprises said they thought things would get worse, with 61 percent of that 54 percent (33 percent of the total) saying that they expected the deterioration to be strong.

Exporters are worried about the imposition of new fiscal measures – with negative consequences on turnover and profits – as well as a further deterioration in their access to financing.

Fifty-two percent of respondents said they expect international economic conditions to get worse by the end of the year, with concerns stemming mainly from slower growth in developing economies such as China, and low growth rates in developed ones. Still, 71 percent do not expect Brexit to affect their business activities.

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