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The Top Greek Exports that Helped Greece Through the Financial Crisis

When it comes to how Greece has stayed afloat throughout the financial crisis that has gripped the nation since 2010, it is no surprise that products that contributed to the country’s economy are certain dynamic exports that are exclusive to Greece.

There are 18 Greek exports that have helped Greece survive the crisis, according to a study compiled by National Bank of Greece’s Economic Analysis Department.

The products, split into two categories, created some 71 percent in turnover abroad from 2009 to 2017. They also accounted for 30 percent of all Greek exports and supported the local economy. Below are some of the export products included in the results of the study.

Basic Commodities:
There are five products in this category and they account for 27 percent of Greek exports. These products were quite resistant to the financial woes of Greece’s economy and their global market shares averaged about 2.5 percent during the crisis.

  • Aluminum – 1.5 percent shares of the global market
  •  Feta Cheese – 3 percent shares of the global market
  • Marble – 7.5 percent shares of the global market
  • Olive Oil – 8 percent shares of the global market
  • Olives – 26 percent shares of the global market

Up-and-coming Goods:
The items in this category are heavy hitters in the international market, even though they only make up 3 percent of Greek exports in the study. These goods managed to almost double their share to 2 percent on the global market in 2017, while other goods exported were experiencing a drop of 1.04 percent, averaging 0.12 in 2017. They have also maintained their price level throughout the crisis.

  • Ice Cream – 1 percent shares of the global market
  • Peanuts – 1.6 percent shares of the global market
  • Smoked Fish – 2 percent shares of the global market
  • Yogurt – 7 percent shares of the global market