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Greek exports to non-EU members rise

Greek exports to third, or non-EU, countries rose by 5.2% in March, while those to EU countries fell by 2.7%, according to the Greek Exporters Association.

Excluding oil products, however, Greek exports fell both to European countries (-4.2%) and to third countries (-9.2%), the Greek Exporters Association said on Thursday.

In an analysis of official data on Greek exports and imports, the association said that exports to third countries accounted for 53.4% of total exports, while excluding oil products third countries’ share fell to 33.9%.

An increase in exports reflected increased activity in the oil products sector (16.5%), chemicals (8.8%), machinery (1.2%), various industrial (0.5%) and confidential products (84.6%). On the other hand, exports in the sectors of food (-2.2%), beverage/tobacco (-9.5%), raw materials (-1.9%), olive oil (-63.8%) and industrial products (-8.3%) moved lower.

Christina Sakellaridi, president of the Association, commenting on the March export figures and said that “their recovery was another positive message to the country’s real economy”. The European Commission, in its latest report, estimated a 4.6% increase in Greek exports this year, while the OECD forecasts a 6.6% rise in exports in 2014.