Ex­ports flirt with an­nual drop for last year as whole

Kathimerini English - - Front Page - DIM­I­TRA MANIFAVA

Greek ex­ports are tee­ter­ing on the brink of end­ing 2013 with a de­cline com­pared with the pre­vi­ous year, as Hel­lenic Sta­tis­ti­cal Au­thor­ity (ELSTAT) es­ti­mates for Novem­ber point to a ma­jor 22.6 per­cent yearly slide when fuel is in­cluded and 7.9 per­cent with­out it. That drop is con­sid­ered par­tic­u­larly big even among the most pes­simistic cir­cles in the ex­port in­dus­try as it con­sti­tutes the worst monthly per­for­mance in four years.

On a 12-month ba­sis, the pe­riod from De­cem­ber 2012 to Novem­ber 2013 showed a mar­ginal in­crease in ex­ports of just 1.7 per­cent from the 12 months be­fore, which means that if De­cem­ber was also a neg­a­tive month in terms of ex­port growth, the whole of last year may have seen ex­ports shrink, against orig­i­nal es­ti­mates for an­nual growth of 3-4 per­cent.

Greek ex­ports in Novem­ber came to 2.14 bil­lion eu­ros, from 2.76 bil­lion in Novem­ber 2012. Fuel ex­ports de­clined by a mas­sive 41.8 per­cent year-on-year, while food ex­ports fell 6.5 per­cent, raw ma­te­ri­als dropped 12.8 per­cent and olive oil ex­ports plum­meted 34 per­cent.

Im­ports that in­cluded fuel de­clined by 15.3 per­cent in Novem­ber, but when fuel is taken out of the equa­tion, im­ports posted an­nual growth of 4.4 per­cent.

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