Rising share for exports to non-EU states


TAGS: Economy

The further growth of exports to markets that usually import Greek goods and the rise in exports to other countries were the sector’s main features last year, according to data processed by the Panhellenic Exporters Association.

Industrial commodities continued to constitute the bulk of the country’s exports, taking up a 42.6 percent share, while the rise in oil prices resulted in an increase in fuel exports to 31.5 percent of the total and to a 44.4 percent annual rise in exports to Turkey from 2016.

Exports to European Union member-states (including fuel) accounted for 53.1 percent of all outgoing goods, down from 55.7 percent in 2016. Despite that drop, their value rose 7.7 percent to reach 15.1 billion euros, while exports to third countries amounted to 13.36 billion euros, for a total export turnover of 28.46 billion, against 25.1 billion euros in 2016.

The main destinations of Greek products were Italy and Germany, with Turkey overtaking Cyprus into third place. Lebanon rose to sixth place from eighth in 2016. Fuel products are Greece’s top export by far, valued at 8.48 billion euros last year, with pharmaceutical exports a distant second at 861.9 million euros.