Turkey Absorbs Biggest Part of Greece’s Exports



9C4EB4421D72FD94CBD0B2A5A44138A3During the period from January to April 2013, Greek exports amounted to 8,933,100 euros, according to data released by the Panhellenic Exporters Association.

In comparison with the same period last year, there was an increase of 8 percent. At the same time, imports dropped by 6.6 percent and reached 15,394.2 million euros.
The country that absorbs the lion share of Greek exports is neighboring Turkey with 1,069,000 euros.

Indeed, an increase of 30.9 percent took place, compared to the first quarter of 2012.

Italy emerged as the second market in size for Greek products, where exports grew from 642.6 million euros to 883.1 million euros. Germany was third in importing goods from Greece, followed by Bulgaria and Cyprus.

Here is the table that contains the 20 countries where the most Greek exports take place:

Country

Exports in Millions of Euros

Turkey

1069.87

Italy

883.06

Germany

587.63

Bulgaria

418.24

USA

343.79

Cyprus

328.20

United Kingdom

266.42

France

236.69

Egypt

230.84

Libya

222.27

Spain

206.76

FYROM

202.00

Romania

180.67

Lebanon

171.12

Singapore

167.52

Algeria

166.54

Netherlands

150.73

Israel

145.90

China

128.54

Russia

114.80

From the figures published by the Panhellenic Exporters Association it occurs that there has been a sharp rise in Greek exports to Brazil (832.7 percent) and Morocco (741.1 percent). Greek exports did very well in South Korea as well where they reached 50.7 million euros marking a rise of 323.2 percent.

It is also worth mentioning that in Egypt Greece has almost doubled exports as their value amounted to 230.8 million euros compared to 117.2 million euros during the same period in 2012.

Here are the twenty countries where the largest rises in Greek exports took place:

 

CountryExports ValuePercentage of Rise
Brazil67.6832.7 %
Morocco113.3741.1 %
Niger0.5644.8 %
Countries and territories not specified0.327562.3 %
South Korea50.7323.3 %
Jordan16.2217.7 %
Latvia5.8144.8 %
Iraq9.2126.4%
Uzbekistan2.8125.1 %
Yemen1.2118.7 %
Qatar8.5109.7 %
Egypt230.896.9 %
Ireland11.188.8 %
Argentina3.370.5 %
Oman2.456.9 %
Mauritania1.949.3 %
Iceland0.946.2 %
Gabon0.1646.2 %
Armenia3.241.4%
New Zealand5.638.4 %

However, except for the 55 in total countries where there was an increase of exports, there are also forty countries where the value of Greek exports was decreased. It is important to mention the markets of India and China, two large markets, where the drop reached 15.4 percent and 7.2 percent correspondingly.
There was also a drop of 6.4 percent as far as Russia is concerned. In addition, in Cyprus where a large part of the Greek exports is absorbed there was a drop of 27.4 percent.

Regarding the imports that Greece carries out, Russia, Germany, Iraq, Italy and the Netherlands are the five countries from where Greece realizes the largest imports on the basis of the value of products imported. The rise of imports from Iraq was impressive as it reached 872.8 percent. Though the biggest rise in imports was from Oman, as the value of imports rose from 1.9 million euros to 88.2 million euros.