Thursday Jul 31, 2014 Search
Weather | Athens
32o C
25o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
The four reasons why exports are declining

By Dimitra Manifava

Over 2,500 enterprises have joined the Panhellenic Exporters Association (PSE) register since 2010 as companies seek new ways to sell their products and services following the dramatic contraction of the domestic market due to the prolonged recession.

The outward-looking trend has led exports to blossom over the last three years, peaking at the historic high of 27.61 billion euros (including oil products and lubricants) in 2012. The momentum of Greek exporters has attracted the interest of foreign funds in recent months, with some expressing an interest in investing.

However, like the miracles that last for just three days, in the exports sector they have lasted for just three years, PSE president Christina Sakellaridi told a press conference this week, referring to the signs of fatigue in the sector after a robust period.

In 2013 the value of Greek exports declined by 0.2 percent year-on-year, or 2.1 percent when oil products are exempted, while early estimates from the Hellenic Statistical Authority (ELSTAT) show that the declining course continued in January 2014.

The PSE chief attributed this negative development first to the cash flow problems that many Greek enterprises are facing, which are exacerbated by the fact that they are being forced to sell their products below cost in order to retain competitiveness. Sakellaridi also referred to the issue of the delay in the value-added tax rebates to exporters, stressing that in no other country in the world are companies placed under such pressure. However, she did concede that the delays are shorter compared with the past, while noting that some exporters collected rebates last year which had dated to 2009.

Greek exports have also been hit by the political unrest and unfavorable economic developments in traditional markets for Greek products such as Egypt, Syria, Turkey and Cyprus. The latest developments in Ukraine resulted in the cancellation of Greek orders, too. As yet, there has not been any impact on exports to Russia, a major importer of Greek products.

A third, significant reason that the rising course of exports has has come to an end has been the delay in reforms aimed at simplifying exporting procedures, although Sakellaridi did acknowledge that a degree of progress has been recorded.

The fourth factor is the absence of any strategy for exports that would focus interest on target markets. It is only in the last few years that markets with a strong Greek presence have been targeted efficiently, although in some cases, such as the US, precious time has been wasted and the situation appears irreversible. Trade fairs are fine, but they do not suffice alone, stated Sakellaridi.

ekathimerini.com , Thursday March 13, 2014 (20:18)  
Only 5 percent of stores see brisker business during this years summer sales
Euro flows reveal shift in sentiment as losses mount
EU puzzles over emergency funds for euro area bank crisis agency
Govt reins in spending of regions
Fake psychic caught in Thessaloniki after gaining 35,000 from victim
A 75-year-old woman has been arrested in Thessaloniki for pretending to be a psychic and convincing 58-year-old woman suffering from an illness to give her 35,000 euros. The 75-year-old woma...
Motorists refusing to pay tolls on Corinth-Kalamata highway to be monitored
Cameras are to be installed at toll booths on the Corinth to Kalamata national road in the Peloponnese to record the details of cars whose drivers fail to pay toll charges. The devices will ...
Inside News
SOCCER
Goalless draw at Liege puts Greens in driving seat
Panathinaikos got the upper hand in the battle for entry to the Champions League playoffs after snatching a goalless draw at Standard Liege on Wednesday. If anything, the Greek cup holders m...
SOCCER
Greek league recruits former referee Dallas
Former referee Hugh Dallas has been appointed as the head referee of the Greek Super League, the Hellenic Football Federation (EPO) said in a statement on Wednesday. The 56-year-old Scot ear...
Inside Sports
EDITORIAL
Populism eating up education
The fact that the issue of education is not topping the list of priorities for the current coalition government, but instead, has been left in the hands of incapable politicians is utterly i...
COMMENTARY
A valued but mistreated professional
I did not know much on a personal level about Dimitris Stefanou, Greeces former administrative reform general secretary who died earlier this week at the age of 46. I did, however, have a s...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Fake psychic caught in Thessaloniki after gaining 35,000 from victim
2. Only 5 percent of stores see brisker business during this years summer sales
3. Motorists refusing to pay tolls on Corinth-Kalamata highway to be monitored
4. Euro flows reveal shift in sentiment as losses mount
5. EU puzzles over emergency funds for euro area bank crisis agency
6. Goalless draw at Liege puts Greens in driving seat
more news
Today
This Week
1. Euro flows reveal shift in sentiment as losses mount
2. EU puzzles over emergency funds for euro area bank crisis agency
3. Motorists refusing to pay tolls on Corinth-Kalamata highway to be monitored
4. Only 5 percent of stores see brisker business during this year's summer sales
5. Fake psychic caught in Thessaloniki after gaining 35,000 from victim
6. Wine cup used by Pericles found in grave north of Athens
Today
This Week
1. Quadriplegic woman on life support 'dies due to unpaid power bills'
2. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
3. Defense Minister Avramopoulos to represent Greece at European Commission
4. Front-line threats
5. Wine cup used by Pericles found in grave north of Athens
6. Greece names fifth privatization agency chief in four years
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.