Exports to Black Sea Region Up

Greek exports to countries in the Black Sea region grew by an annual average rate of 2.4 percent in the 2005-2009 period, and imports were up 1.86 percent according to the Panhellenic Exporters’ Association.

In a report, based on provisional data by the Hellenic Statistical Authority for the first four months of 2010, Greek exports to Black Sea countries grew 8.3 percent, with a value of 1.017 billion Euros, and Greek exports grew 2.1 percent in general, reflecting mainly higher exports to Turkey (35.4 percent) and Russia (27.2 percent).

Imports from Black Sea countries fell 31 percent in the January-April period to 1.319 billion Euros, from 1.912 billion Euros in the same period last year, reflecting a 56.7 percent drop in imports from Russia, a 41.4 percent fall from Ukraine and a 12.6 percent fall from Turkey. Greek imports fell by 15.8 percent in the four-month period.

Despite these developments, Greece maintained a trade deficit of 301 million Euros in its trade transactions with Black Sea countries, down from a deficit of 972 million Euros last year.

Exports grew mostly towards Bulgaria, Romania, Serbia (including Montenegro and Kosovo), with industrial products accounting for more than 60 percent of exports to the region through the 2005-2009 period, and agricultural products growing from 11 percent (2006) to 20 percent (2009). (Source: ANA-MPA)