ECONOMY

Exports to China keep increasing while imports fall

The rebound of Greek exports to China continued in the first five months of 2011, contrary to the amount of Chinese exports to Greece, according to a document by the Financial and Trade Affairs agency of the Greek Embassy in Beijing.

The flow of trade between the two countries remains on a completely different level in absolute prices, as the Greek trade deficit with China closed at 2.7 billion euros in end-2010, while it has already reached 974 million euros in the year to May.

The first five months of 2011 saw a considerable increase from the same period last year in all food categories, with dairy products exported to China increasing by 55.5 percent, olive oil by 87.3 percent, other food products by over 170 percent and drinks by a spectacular 417 percent, although with the exception of olive oil, no category has achieved a turnover of more than 1 million euros as of yet.

There is also a steady rising course for the categories of marble, mining products and plastic, exceeding 50 percent.

On the other hand, the embassy?s report showed a steep decline in the export of unprocessed leather (73.3 percent) and fur skins (32.6 percent).