Exports are going for a record
Greek exports are headed for a new record, barring any unpredictable geopolitical developments with negative effects of course.
Speaking on Wednesday at the annual forum of the Panhellenic Association of Exporters, the president of the association, Christina Sakellaridi, estimated that Greece’s exports this year could reach 70 billion euros. It is noted that in 2022 exports set a new record high, as they amounted to €54.68 billion against €40 billion in 2021, posting an increase of 36.7%.
Minister of Development and Investment Adonis Georgiadis underlined that in 2009-2010 the total volume of exports in terms of GDP was below 10%, while today it is above 23%, which demonstrates the dynamism of the Greek economy.
He also noted that there cannot be more exports without an increase in imports, due to raw materials, but, as he added, the current account deficit will decrease rapidly in the future with the increasing contribution of renewable energy sources (RES) to the energy mix and therefore the reduction of energy costs, which will help businesses become more competitive.
“Exports have a lot of scope to gain a competitive advantage due to energy costs that have risen in the crisis, but as cheaper green energy comes into the mix, in the next five years the disadvantage will turn into an advantage. Compared to today, we will have three times more RES production, so the industry will receive cheaper electricity in the next five years,” argued Georgiadis.
The announcement of the 2023 national plan for exports was made by the deputy minister of foreign affairs responsible for economic diplomacy and outreach, Kostas Frangogiannis. In his taped message he argued that “it is not an exaggeration to say that today we are above Italy and France in exports of goods and services as a percentage of GDP. Nor is it an exaggeration to say that with exports reaching €74 billion and foreign direct investment amounting to €5 billion, the growth and resilience of the Greek economy is due, among other things, to extroversion and investments – i.e. its strategic goals of economic diplomacy.”
