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Greek Export Industry Faces Decline

The Greek export industry continues to face a decline, as it did in 2013's final months.

Yet, trade deficit experienced a 2.4% reduction, due to a 4.1% import decrease, as stated by the Panhellenic Exporters' Association's Friday report.

The analysis determined that January to February 2014 exports generated 4.18 billion euros. This figure is 5.5% less than last year's time period, which raised 4.42 billion euros.

February was plagued with a harsher export drop than January, as the sector fell 6.8% this year. This downfall was caused overall, by a 12.4% decline in exports received outside the European Union. However, exports to EU members rose 0.7%. The Panehellenic Exporter's Association stated that the rise was due to an oil product export alteration, with increased activity between third countries to fellow EU nations.