Rising trend in Greek exports to Mediterranean
Greek trade with other Mediterranean countries grew at a faster rate than the total in the 1990s, according to data released by the Panhellenic Exporters’ Association. The average annual growth rate of Greece’s trade with Mediterranean nations in that period was 9.3 percent for exports and 7.6 percent for imports, compared to 3.2 and 4.5 percent respectively for total external trade. In the year 2000, Greek exports and imports to and from the region amounted to 16.8 and 3.5 percent of the respective totals. Turkey and Cyprus emerged as two of Greece’s most important trading partners in 2000, absorbing together 58 percent of Greek exports to the region and 9.8 percent worldwide. Turkey absorbed $543-million-worth (in first position in the region and fifth worldwide) and Cyprus $506-million-worth (in second and sixth position respectively). Israel was Greece’s third best customer in the region with $180 million, followed by Lebanon with $145 million and Malta with $133 million. Greek imports from the region rose 12.1 percent to $989 million in 2000, against a 5.2 percent rise to $27,947 million of total imports the previous year. Turkey with $386 million, Israel with $148 million and Egypt with $142 million accounted together for more than 65 percent of imports from the Mediterranean, but for only 2.4 percent of all Greek imports where they rank 20th, 28th and 29th. The region absorbs large segments of certain categories of Greek exports, such as 35 percent of petroleum products ($520 million), 25 percent of tobacco ($95 million), 53 percent of textile fibers ($164 million) and 78 percent of natural and industrial gases ($66 million). «I also think it’s in Turkey’s interests to do that because it will heighten the EU’s interest in their membership and they might be able to make a better deal,» he said.
