ECONOMY

Exports continue their growth

Exports continued on their upward trajectory in June, as Hellenic Statistical Authority (ELSTAT) data showed on Tuesday that their value increased by 35.8 percent from June 2010.

Although their value posted a small increase compared to May, the total figure of 1.938 billion euros constitutes the second-highest level of the last 30 months. If oil products are excluded, the increase drops to 4.5 percent. If this upward course is confirmed in the next few months it will vindicate the forecast of the Panhellenic Exporters Association for an annual increase of 8 to 10 percent in 2011.

In the 12 months from July 2010 to June 2011 the value of exports has risen by 13.5 percent from the previous 12 months, not including oil products.

Topping the exports list (oil products aside) are industrial products (401.7 million euros), food and livestock (276.9 million euros) and machinery (204.3 million euros).

On the other hand, imports keep shrinking, owing to the ongoing crisis, dropping by 10.7 percent in June from the same month in 2010, as they amounted to 3.008 billion euros, not including oil products.