Greece to raise exports to GDP ratio to 48 pct by 2023-Xinhua

Greece to raise exports to GDP ratio to 48 pct by 2023

Source: Xinhua| 2022-05-26 22:22:00|Editor: huaxia

ATHENS, May 26 (Xinhua) -- Greece aims to increase the ratio of exports of goods and services to its gross domestic product (GDP) to 48 percent by 2023, up from 37 percent recorded in 2019 before the start of the COVID-19 pandemic, according to the National Strategic Extroversion Plan 2022 unveiled here on Thursday.

The plan serves as a roadmap for the country's international economic relations with timetables per geographic region and field of business activity, according to the government.

The ratio of Greece's foreign direct investment (FDI) net inflows to GDP is expected to increase to 4 percent by 2023, up from 1.8 percent achieved in 2019, according to the plan.

"Crisis creates windows of opportunity. With good reflexes, we can achieve positive results," Foreign Affairs Minister Nikos Dendias said, addressing an event on the presentation of the plan.

The plan foresees 670 planned actions in 47 countries across the world, including 36 in China, in the coming months to boost economic cooperation on bilateral and regional levels, attract more investment and promote exports, said Deputy Foreign Minister for Economic Diplomacy and Openness Kostas Fragogiannis.

Emphasis will be put on tourism, energy, logistics, pharmaceuticals, biotechnology and agricultural products among others.

"Increased extroversion brings growth and growth touches upon everyone," Fragogiannis said in a press statement.

In 2021, real GDP in Greece grew by 8.3 percent, offsetting the 2020 GDP contraction of 9 percent and the Greek economy is expected to continue to grow in 2022, albeit at a slower pace, according to a recent Bank of Greece (BoG) report.

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