The facts refute the government’s statements: the drop in export and an increase in the shortage of trade balance

The growth of trade deficiency and the drop in exports in 2024 steel loud signal For the economy and the source of serious anxiety.

It is noteworthy that and European Commission She also drew attention to this problem in her last report on Greece. It makes a special mention of the deficiency of current operations (superhumma of the trade balance), which remains higher than the levels to the pandemic and is not expected that it will significantly decrease in the coming years. This is due, among other things, with the dynamics of investment, partially determined The recovery fundWhich negatively affects the trade balance.

Serious fears

Other analysts noted the problem situation. For example Kep (The Center for Economic Research and Forecasting) in its recent analysis recorded the resumption of the deficit in the balance sheet of current operations from 2020 to 2023.

It is worth noting that other institutional players, such as TTE (Tripartite commission on economics), Job (Institute of Economic Research) and Parliament budget bureau They also mentioned this topic, urging the government to deal with the solution to the problem, which it had previously obliged, announcing the intention to increase export (last year there was a decrease by 2.2%).

As the president noted All -Greek Union of Exporters Alcibiadis Kalambokis: “Continuous efforts of Greek exporters in difficult conditions of 2024, such as War in Israel and Ukraine, economic instability in strong countries EU and increased energy expenses led to a balanced result. 2025, full challenges and with a clear threat of introducing duties by the United States, requires uniting the efforts of all interested parties (governments, organizations, exporters) to return to a positive result, proving that Greece is a dynamic country that can win in an export export rate And wider development. ”

Data and dependence on imports

What showed the data published Greek statistics? The trade deficit increased by 7.9% last year and amounted to 34.615 billion euros compared to 32.071 billion euros in 2023. Excepting oil products, an increase of 1.421 billion euros or 5.4%is observed, and without oil products and vessels – an increase of 1.393 billion euros or 5.3%. It should be noted that export was reduced by 2.2%, but increased by 2.3% excluding oil products. It is also worth noting that Greek exports decreased by 8.5% in 2023.

As you can see, Greece demonstrates high dependence on imports for the production of its export goods in comparison with other countries of the south of the eurozone, according to the study of KEP. “This dependence, combined with a high state debt, puts the Greek economy in an unfavorable position on a global economic background, making it more vulnerable to external factors and economic fluctuations”, – It is noted in a recent Kepe analysis.

“The imported content of Greek exports or, in other words, the imported component of exports is a particularly important variable, as it reflects the degree of dependence of Greek production on foreign intermediate goods necessary for the production of exported products. The higher the value of this variable, the more intermediate goods must be imported by the Greek economy for the production of exported goods, which reduces the added value of domestic production and worsens the balance of current operations ”, – emphasizes in a recent Kepe analysis.

PS, judging by the report, Greece, like other EU countries, will have to buy more American LNG, otherwise Trump will inevitably introduce barrage duties on Greek goods.

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