ECONOMY

Exports jump 31.5 pct in Jan to March

Greek exports rose 31.5 percent year-on-year in the first three months of the year to 4.5 billion euros, boosted by a strong rise in sales of fuel related products, the Panhellenic Exporters Association (PEA) said on Wednesday.

PEA expects export growth this year to rise by eight to ten percent, at least, it said in a statement adding that the Organization for Economic Cooperation and Development (OECD) forecasts Greek exports will advance by 9.4 percent in 2011.

A breakdown of figures shows that fuel product sales jumped 278 percent year-on-year to 947.1 million euros while agricultural exports rose nine percent to 948.6 million euros.

On a geographical basis, the largest chunk of exports for the January to March period went to European Union countries which paid 2.3 billion euros for Greek products, up 18.3 percent.

The largest growth rate, however, was seen in products sent to south eastern Asian countries, which rose 290 percent in comparison to the same period a year earlier, to 186 million euros.