Four out of 10 Greek exporters expect a negative impact on their export activity as a result of developments in the Middle East, and a significant proportion of them predict that the impact will be sweeping.

In particular, 39% of Greek businesses predict that the current crisis will burden them, compared to only 3% who anticipate that it will benefit them, according to a SEVE (Greek Exporters Association) report. On the other hand, 58% of the respondents predict that they will not be affected at all.

This percentage is also in line with those with trading partners in the Middle East. Besides, according to the SEVE poll, more than half of Greek businesses (54%) do not maintain ties with the countries involved in the critical conflicts. However, 30% have relations with Israel, 21% with Lebanon, 15% with Jordan, 5% with Palestine, and 3% with Syria. 

Of those who anticipate a negative effect on their exports, 29% anticipate a limited one, with a decline in exports of less than 10% annually anticipated in the first half of 2024. A more severe impact, with a reduction of between 11-25% in export activity, is anticipated by 16% of firms. 

17% of them think the impact on their exports will be between 51 and 75%, while 27% think it will be even greater, ranging from 26 to 50%. Finally, 10% responded that the negative impact will reach 76–100%.