Greece’s trade deficit worsened in 2004 by 8.5 percent, reaching 30,170.7 million euros, the Export Research Center (KEEM) of the Panhellenic Exporters’ Association announced yesterday. Exports actually rose by 3.3 percent from 2003, reaching 12,228.5 million euros, but imports were 3.5 times higher, at 42,399.2 million euros, up by 7 percent year-on year. The top markets for Greek products in 2004 were Germany, Italy, the UK, Bulgaria and the USA. Agricultural products accounted for only 20 percent of total exports, down by 8.3 percent. This decline was covered by the rise in industrial products’ exports by 5.8 percent, accounting for almost two-thirds of exports’ revenues.

Teleworking in Greece has not expanded the way it has in other European countries, despite the widespread use of call centers, a survey by the Southeastern Europe Telecommunications & Informatics Research Institute (INA) has found. The limited spread of teleworking is attributed to a deficit in infrastructure in telecommunications and information technology. The survey also found that teleworking is only used as a supplementary form of work at home, it does not form part of incentives or company programs; teleworkers are either external associates or high-ranking employees and there is no relevant training provided.

A new meeting between bankers and bank staff representatives yesterday yielded little indication as to the final outcome of negotiations on the settlement of banks’ unfunded social insurance liabilities. The bankers said they were in parallel talks with the government, which also has a stake in the issue, and asked for negotiations to be prolonged. A new meeting has been slated for next Tuesday.

The first vice president of the Greek Industries Federation (SEV), Dimitris Daskalopoulos, dismissed speculation about him replacing Odysseas Kyriakopoulos as head of the country’s industrialists after the latter was not elected president of the Union of Industrial and Employers Confederations of Europe (UNICE) as was widely expected. He said he will remain in his present post until May 2006.

Tasos Haniotis, head of the Agricultural Trade Policy Analysis Unit in the Directorate General for Agriculture in the European Commission, yesterday assured Greek farmers they will not lose from the revised Common Agriculture Policy, as long as they adapt swiftly to the new conditions. He said the new CAP offers support to producers without creating problems, as it enables them to secure a specific income and then produce for the market.

Karelia, Greece’s leading tobacco manufacturer, is planning to introduce new products and invest more than 18 million euros this year after a 12 percent yearly rise in turnover in 2004. Founded in 1888, Athens-listed Karelia exports 72 percent of its production to 64 countries. Pretax profit in 2004 was 32.38 million euros, up by 19.2 percent from 2003. Company officials told Kathimerini that the outlook for 2005 is satisfactory, based on continuous effort toward adjustment to market requirements.