Greek exports retained their strength in the first nine months of 2017, despite the problems the business sector continues to face, and expanded their presence in non-EU countries significantly.

The data came from the analysis by the Panhellenic Exporters Association and its Exports Research Centre of preliminary results provided by the Hellenic Statistical Authority for the first nine months of the year.

According to Panhellenic Exporters Association, the total value of exports, including oil products, increased by 13.3 pct in the first nine months of 2017, to 20.82 billion euros, from 18.37 billion in the same period in 2016. 

Exports rose by 5.9 pct (or 799 mln euros), not counting oil products, to 14.25 bln euros, from 13.46 bln in the corresponding period last year.

Exports to the 28 European Union countries rose by 6.9 pct, and with the inclusion of oil products make up 53.9 pct of all exports. In the corresponding period last year, they accounted for 57.2 pct of all exports. 

On the other hand, exports to Third Countries increased to 46.1 pct, from 42.8 pct last year.

Italy remains the top destination for Greek exports in Jan.-Sept. 2017, followed by Germany and Cyprus, as last year.

Turkey overtook Bulgaria in the fourth place, with the latter dropping to fifth place. They are followed by Lebanon (6th export destination, two levels up from last year), the United States (same as last year) and the United Kingdom (formerly in 6th place). Romania is the ninth export destination for Greek products, as last year, and France tenth, two levels up from last year.

Overall, the increase is due to the steep rise of exportable fuels (by 33.6 pct) and the international prices of oil. 

Raw materials also showed a significant rise, by 30.6%, while industrial products rose by 9 pct, retaining a 43.1 pct share in the total of Greek exports.

On the other hand, exports of agricultural products showed a slight drop (-2.8 pct), and exports of Non-classified commodities and transactions fell by 3.7 pct.

Sources: Athens News Agency – Greek exports to EU countries rise by 6.9 pct Jan.-Sept. 2017Hellenic Statistical Authority – Commercial Transactions of Greece – September 2017