ECONOMY

Exports shrink 8.3 pct year-on-year in January

exports-shrink-8-3-pct-year-on-year-in-january

Greek exports, including olives and olive oil, recorded an 8.3 percent annual decline in January, according to figures released by the Hellenic Statistical Authority (ELSTAT) on Wednesday.

They amounted to 1.72 billion euros, including fuel products. Fuel excluded, the drop came to 3.9 percent year-on-year.

Exporters attribute the fall almost exclusively to the 18.5 percent drop in exports to third countries, given the slowdown or decline in many emerging economies.

Exports to fellow European Union countries contracted marginally by 0.8 percent, fuel products included, with 62.4 percent of Greek exports now absorbed by the EU.