The volume of trade between Greece and Russia fell by 33.7 pct to 2.8 billion US dollars in 2015, with Greek exports falling by 54 pct to 229.4 million dollars and Russian exports totaling 2.5 billion dollars, a decline of 31 pct, according to data released by the customs authority of the Russian Federation.
Based on these figures, the Greek-Russian trade balance recorded a significant shortfall for the country and reflect the negative impact from the imposition of trade sanctions against Russia by the European Union and other countries and a dramatic devaluation of the Russian currency.
Different methodology
The Russian data on trade transactions are very different from Greek statistics because of the use of different methodology followed by the two authorities.
The trade data showed that passenger vessels accounted for 14.3 pct of total Greek exports to Russia, followed by aluminium leaves and tapes (5.9 pct), sweets, jams (5.7 pct), unprocessed tobacco (5.6 pct), pharmaceuticals (5.3 pct) and lifts (5.0 pct).
On the other hand, oils accounted for 65 pct of Russian exports to Greece, followed by confidential products (19 pct), aluminium (8.5 pct), wheat (1.4 pct).
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