Exports are losing steam

Exports are suffering as a result of the current political and fiscal uncertainty, leading to a stagnant growth rate in April that amounted to no more than 0.3 percent compared to the same month in 2011, according to provisional estimates by the Hellenic Statistical Authority (ELSTAT).

“Exports are nominally steady but in practice they are reduced, confirming the pressure on the country?s external trade as well as the practical consequences of the insecurity, particularly from our European trade partners, about the prospects of Greece on a financial and political level,» Christina Sakellaridi, the head of the Panhellenic Exporters Association, said yesterday.

Exports to European Union countries fell by 3.4 percent in April.

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