What can be noticed is that the higher percentage of exports is in distillate products which are priced on dollars below we can see the dramatic drop of euro in relation to dollar
Let’s now see if this state of economy which is beneficial to Greece (due to drop in international crude price) had any positive impact on our trade balance
What is noticed is a turbulence with no visual positive impact while the gap among imports and exports still in high levels. If we look where we export (graph below) we notice that more than 1/3 goes out of euro countries which means that at this state the drop of euro should have at least a visual positive impact on our trade balance. BUT THIS IS NOT CONCLUDED.
SUMMARISING A CURRENCY WITH LOW PARITY WITH DOLLAR WILL BE A DISASTER FOR GREECE IN THE SHORT TIME AND IN THE LONG TIME WILL HAVE NOONE ALIVE TO SEE THE POSITIVE IMPACTS