Greek exporters are facing increasing anxiety as they navigate a fraught global landscape, further complicated by ongoing conflicts in the Middle East.
The turbulence in the region, highlighted by the Israel-Palestine conflict and escalating tensions with the Houthis, is driving up operational costs for Greek businesses.
If the discord between Israel and Iran remains unresolved, the situation could worsen, particularly with potential disruptions in critical shipping routes such as the Suez Canal.
This could result in even higher costs for Greek exporters, which are likely to be passed on to consumers, though the exact impact will depend on the duration and intensity of the unrest.
In response to these challenges, Greek exporters are strategically shifting their focus towards exploring new markets.
This proactive approach aims to buffer against the rising risks tied to inflation, increased transportation costs, and longer delivery times.
The current disruptions have led to soaring costs for shipping containers, extended transit periods, and elevated insurance premiums.
Such issues are not only straining profitability but also threatening to impact Greece’s GDP growth and inflation targets for 2024.
The President of the Greek Exporters Association emphasizes the critical need for Greek exporters to diversify their markets to sustain resilience in these turbulent times.
As exporters confront these mounting pressures, expanding into new territories has become a vital strategy to mitigate the adverse effects of the ongoing global instability.
