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in exports towards all the countries in the region, except for Indonesia (5.7 million ¬ or 19%)
and Taiwan (2.2 million ¬ or 43.7%). Exports to Latin America also showed significant
decrease, although they constitute just 0.5% of all Greek exports. This drop is due to the
general decrease of exports to all these countries except for Brazil (9 million ¬ or 48.5%).
Finally, exports to India increased (133.1%), while those to China receded by -15.8% reach-
ing 13.6 million ¬ as against 5.8 million ¬ and 18.9 million ¬ as against 22.4 million ¬ in the
first half of 2013, respectively.
Imports fell (-28.3%) at a much greater rate than exports reaching in the first quarter of
2014 to 10,726.7 million ¬ as against 14,960.9 million ¬, in the corresponding period in
2013. Imports fell to almost all regions of the globe, apart from North America (65.4%), SE
Asia (87.6%) and the low in value imports from the "other developed countries" (10.9%).
Exports According to Broad Product Categories
The drop (-17.1%) in the value of exports during the first quarter of 2014 is due to the
decrease in all exports in the basic categories.
Agricultural product exports decreased by -3.3%falling to 837.6 million ¬ from 866.,3 mil-
lion ¬ in the first quarter of 2013, increasing, however, their overall share among total
exports to 25.2% as against 21.6% in the relevant period of 2013. This decrease is due to a
drop of exports in all sub-categories: "foodstuffs and live animals" by -2.1% reaching a
mere 623.4 million ¬, "drinks and tobacco" by -4.6% reaching 133.3 million ¬ and "oils and
animal and vegetable fats" by -9.9% dropping to 80.9 million ¬, during the first quarter of
2014.
A significant decrease (-21.3%), the greatest of all Greek exports was registered by indus-
trial product exports that in the first quarter of 2014 accounted for 59.3% of all Greek
exports reaching 1,970.7 million ¬ as against 2,505.1 million ¬ during the same period in
2013. A higher than average decrease was registered by exports in the sub-categories
"industrial goods according to raw materials" (728.2 million ¬ or -23%), "machinery and
transportation materials" (392.8 million ¬ or -26.4%) and "miscellaneous industrial goods"
(373.3 million ¬ or -19.5%), while exports in the sub-category "chemical and similar prod-
ucts" also dropped (476.3 million ¬ or -15.1%).
There is a reduction of exports in the categories of raw materials and fuels by -14.7% êáé -
36
/ TRIIRIS / JUNE 2015
THE GLOBAL CRISIS AFFECT EXPORTS