Greek exports affected by Turkish crisis


Greek petroleum

The Piraeus Chamber of Commerce and Industry said that Greek exports will be affected by Turkey’s economic woes.

In a statement issued on Thursday Chamber President Vasilis Korkidis said that he expects a significant drop in exports in 2018 "due to the falling value of the lira, the drop in demand and worsening business confidence."

According to data, Greek exports to Turkey jumped 44% to 1.95 billion euros last year, with the majority of goods being sold including petroleum products, cotton, industrial plastics aluminum and copper goods.

On the other hand, Turkey exported to Greece last year 1.4 billion euros of goods, up 4.4 % from the previous year.

Greece’s Finance Minister Euclid Tsakalotos assured that Turkey’s currency crisis will not affect Greece’s clean exit from the bailout programme.

"The Greek government, like all European governments, is following closely developments in the Turkish economy. Our hope and wish is that our neighbors overcome their problems soon. However, the issues of Turkey's economy do not affect the Greek economy's clean exit from the loan agreements (memoranda)," said Tsakalotos