Greek Exports Down by 8 Percent in 2016



olive oilThere is a notable decrease in exported goods from Greece, thought to be influenced by financial restraints the economic crisis is putting on Greek companies, according to the Panhellenic Exporters Association.

Greek exporters continue to pay a heavy price for the absence of normality in the market more than one year on from when capital controls were imposed,” Christina Sakellaridi, the head of the Panhellenic Exporters Association said, according to ekathimerini.com.

Also data published by the Hellenic Statistical Authority on Friday seems to suggest that there is a decline in exports in both EU markets as well as non-EU markets.

The statistic released show that the value of Greek exports for the first six months of 2016 came to 11.97 billion euros, 8.1 percent lower that the 13.02 billion achieved year-to-year. The decrease is quite alarming considering that exports made between January and June in 2014 saw an even higher value of 13.17 billion euros.

Not helping the situation is both the financial crisis gripping Greece and capital controls which are making it more difficult for Greek companies to compete with aggressive marketing campaigns in the growing non-EU markets.