This site is for archive purposes. Please visit for latest updates
Go to Top

A Closer Look to External Trade: Greece’s Export Performance

Λεκκός, Ηλίας, Λεβεντάκης, Αρτέμης, (2016), “A Closer Look to External Trade: Greece’s Export Performance”, Τράπεζα Πειραιώς, 9 Δεκεμβρίου

Greece’s trade balance in terms of GDP has improved substantially in the last eight years (from 12.6% deficit in 2008 to marginal surplus of 0.1% in 2015), correcting one of the long-term macroeconomic imbalances of the Greek economy. However, this improvement was achieved through sharp import contraction taking into account that imports decreased by 36% in 2008-2015 (in current prices), while exports fell over that period marginally by 0.8%. Despite the fact that Greece’s trade openness in 2015 has increased significantly compared to 1995 and has reached 64% of GDP it still remains relatively low compared to the average of the Euro area as a whole. Furthermore, it should be noted that although Greek exports in the last 3 years exceeded 30% of GDP, which is a historic high, Greece as a small closed economy presents lower ratio exports to GDP compared to its peers.

Σχετικές Αναρτήσεις