Flicking through the World Bank data for the previous post, I noticed Greece.
A very substantial – 10 percentage point – increase in the export share of GDP in just a few years.
Unfortunately, of course, almost all the action is in the denominator.
Here is real GDP for Greece – not per capita.
And here are real exports.
Domestic demand collapsed, and there just hasn’t been much real improvement in competitiveness (or probably policy certainty, of the sort that might encourage much new investment).