Has the financial crisis impacted UK apparel exports to Greece?

Whilst the Greek market makes up just over 1% of total European exports, can fashion exports from the UK tell a story of the on-going of the current financial situation?

Analysis of apparel exports show how their value to Greece fell to just over £4 million in April 2015. However, April in 2014, a similar pattern of a rise in February and March before falling back substantially. This pattern is also followed in wider European Community export values. In this case, the pattern up to April 2015 showed no immediate picture of the financial restrictions being felt in Greece. A key element of this pattern may well be that the affluent Greek community who would be the market for British exports are lesser effected by the crisis and thus spending habits might not change.

However, now capital controls have been installed, how these play out with the fortunes of Greek exports will be interesting to monitor.

Greek exports

Source: UKTI


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