Drop in European demand dents Greek exports

The decline in demand in Europe led to a drop in the value of Greek exports for a second straight month in August, by 24.5% annually to 3.63 billion euros including petroleum products and by 14.3% without.

In January-August their value decreased by 5.7% including oil products to €33.77 billion and increased by just 2.4% without.

Given that prices this year for several products remain at much higher levels, the small increase in the value of exports, excluding oil, shows it is inflationary and the very small percentage increase indicates a drop in exported quantities – although fruit showed growth.