ECONOMY

Exports post 1% increase in January

exports-post-1-increase-in-january

Greek exports remain resilient, as despite the global economic recession and the multiple factors against them, they have started 2021 on a positive footing. They recorded a 1% annual increase in January, excluding fuel, according to data released on Wednesday by the Hellenic Statistical Authority (ELSTAT).

Exports excluding fuel products amounted to 2.01 billion euros, against €1.99 billion a year earlier. When fuel is included, exports declined 12.1% to €2.51 billion against €2.85 billion in January 2020.

Chemicals, food, raw materials and tobacco-alcoholic beverages were the main product categories to record an exports increase in January.

Among the factors hampering exports – besides the recession – one should include the considerable delays in the maritime transport of commodities due to fewer ships being chartered, as well as the increased costs (and delays) of raw materials and equipment that exporting enterprises require, due to the lack of containers observed in recent months.

Imports posted a major decline of 16.7% year-on-year, reaching €3.95 billion in January against €4.75 billion a year earlier.