Greek Exporters Association (SEVE): Record € 40 billion in exports – Top 9 sectors

With a new record of extroversion for Greek products and Greek export companies, 2021 closed, with exports of goods approaching 40 billion euros for the first time in history, far exceeding the performance of both 2020 and pre-pandemic 2019.

This development proves “not only the resilience of the industry, but also its huge prospects (…), as well as that the international orientation of companies will be the key point in achieving high growth rates of the Greek economy,” she said in a statement today. the administration of the Greek Exporters Association (SEVE).

In fact, he adds, this year’s performance proves that the goal of extroversion set by SEVE, ie exports as a percentage of GDP to reach 25% by 2024, is entirely achievable. This is because, if the European Commission’s forecasts for growth of 7.1% in 2021 are confirmed, the corresponding percentage for 2021 will rise to approximately 22.5% compared to 18.6% in 2020.

Trade deficit also rising

“However, the substitution of imported products with domestic ones and the provision of incentives to strengthen Greek production in order to reduce the trade deficit, which increased significantly in the period 2020-2021, is considered particularly important.”

According to the data of freight transactions announced by the Hellenic Statistical Authority and compiled by the Institute of Export Research and Studies (IEES) of SEVE, exports of goods in December 2021 (including petroleum products) amounted to 3.56 billion euros, an increase of 17.4% compared to the corresponding month of 2020 and 22.4% compared to 2019. Of course, imports also recorded a strong increase in the last month of the year and amounted to 6.24 billion euros in 2021, an increase of 37.8%. As a result, the trade deficit increased significantly.

Excluding petroleum products, exports were also particularly high in December 2021 compared to the respective months of 2020 and 2019, namely by 25.1% and 28.6% respectively, resulting in imports of 4.33 billion, excluding petroleum products, amounted to 2.58 billion euros.

For the whole year, exports amounted to 39.8 billion euros, increased by 29.5% compared to 2020 and 17.8% compared to 2019. Imports also increased by 31 , 1% compared to 2020 and amounted to 64.1 billion, while the trade balance showed a deficit that grew by 33.8% compared to 2020 and by 11.1% compared to 2019. A significant increase was recorded in exports, even excluding petroleum products.

Which sectors achieved the highest exports and which markets absorbed them

At sectoral level, there was a significant increase in exports of all product categories compared to the previous two years. In detail, exports that recorded an upward trend compared to 2020 included industrial products (1.34 billion euros, + 27.7%), food (590.8 million, + 11.1%), chemicals (609.9 million, + 12.1%)) , machinery and vehicles (605.2 million, + 18.6%), various industrial (511.5 million, + 21.0%), raw materials (622 million, +49 , 3%), beverages and tobacco (129.4 million, + 16.3%), fats and oils (159.8 million, + 28.0%) and non-classified products (74.5 million, + 16.1%).

EU countries (27) absorbed most of Greek exports, namely 53.7% (21.42 billion), while 46.3% (18.46 billion) were shipped to third countries. The corresponding percentages for 2020 were 57.5% for the EU (27) and 42.5% for Third Countries, while for 2019 they were 52.4% for the EU (27) and 47.6% for Third Countries.