ECONOMY

Non-fuel exports retain growth course in October

Non-fuel exports retain growth course in October

Greek exports are showing remarkable resilience in the face of the pandemic, growing 4.1% in October on an annual basis (excluding fuel products), according to Hellenic Statistical Authority (ELSTAT) data analyzed by the Panhellenic Exporters Association.

Exports amounted to 2.21 billion euros, up from €2.12 billion a year earlier.

The sectors that outperformed were chemicals (up 16.7%), food and livestock (12.6%) and industrial products (14.7%).

When fuel products – that slumped 38.9% – are factored in though, exports posted a yearly decline of €228.5 million or 7.9% to reach €2.68 billion, against €2.91 billion in October 2019.

There was also a significant decline on the imports side, which shrank by €830.7 million or 16.9% year-on-year to reach €4.08 billion.

Consequently the trade deficit declined by 30% or €364.6 million on an annual basis in October to €1.4 billion, against €2.01 billion in October 2019.

Without the major influence of fuel included, Greek exports in the year’s first 10 months managed to grow despite the pandemic: They increased by 1.8% or €346.8 million to reach €19.66 billion, from €19.32 billion in January-October 2019.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.