Greek Exports to Turkey Up Sevenfold in a Decade



exportsGreek exports to Turkey, such as cotton, fuel and plastics, have increased sevenfold within a decade, soaring from 369 million euros in 2002 to 2.6 billion in 2012, quoting official figures. There was a 38% increase from 2011 to 2012 as well.

Turkish exports to Greece also grew from 645 million euros in 2002 to 1.02 billion last year, despite a 9.73% annual decline in 2012 compared with 2011. Tourism from Turkey has also soared, posting a 57.6% annual increase last year, while in January-February 2013 the number of Turkish visitors to Greece doubled compared to the same period last year. In total, about half a million Turkish citizens arrived in Greece on a visa.
(source: ANSA)


4 COMMENTS

  1. In the photo it looks like Greece’s smog problem has spread into Turkey.
    This will be a tough year for businesses trading with Turkey. If the Lira continues to slide and banking restrictions will tighten. Turks will be happy to accept Euros at greatly improved exchange rates just so they have a hedge. On the other side of Europe, Latvia is joining the EZ for all the wrong reasons. Even though the population does not want the Euro, the government is forcing them to join to break away from their Soviet past. With logic like that they will soon become the latest of a growing list of EZ debtor nations.

  2. As you know history and geography produce repeating patterns. Since Ancient Greek times the part that is Greece today and coastal Turkey flourished together. Politics aside, the Greece-Turkey trade pact is very powerful indeed.

  3. In ancient times much of trade was done with coin or barter. Many cities were settled by Greeks or Greek speaking populace willing to trade goods and necessities. At the time there were no banks, no exchange rates and no letters of credit. While I have hope trade will continue with Turkey one must be prepared for likely possibilities. We must anticipate Turkey will continue to experience a period of economic and/or civil unrest as an emerging nation’s growing pains and our export assets will be adversely affected.