Exports: Is Greece galloping or not?

Exports of Greek goods increased by almost 50% in April, a sign that the world economy is returning to normal and the “wounds” of the pandemic are healing day by day. Even without the petroleum products that have a special weight in shaping Greek export performance, exports of other products increased by 37%, proving once again the dynamics of Greek exports. But the point is to stop talking about “dynamics” one day and talk about a consolidated situation of expansion of the number of export companies, the volume of products and the destination markets.

Today only 15% of Greek companies show export activity and in fact the vast majority of exports come from just 250 companies. In the years of crisis, Portugal, which was in the same category as Greece (high public debt, imposition of memoranda) was literally saved by exports which exceeded 90 billion in value. In Greece, on the other hand, some companies were forced to stop their export activity while others developed extroversion as a solution of necessity, without preparations and planning.

The percentage of Greek exports in 2020 as a percentage of GDP amounted to 18% (30 billion exports with a GDP of 168 billion), while in other European countries the corresponding percentage ranges from 40% to 80% (!). Also, the participation of industry and agriculture in all exports is sluggish while there are prospects, as processing and primary production products are of high quality.

The momentum is there, and the brand “Greece” is gaining momentum. The secret to proving that exports are a lifeline for Greece is the creation of coalitions in small companies in order to form a critical export mass, the reduction of the technological investment gap in relation to competitors, and the further development of networks in existing and in new destinations.