Not a recommended way to raise the export share of GDP

Flicking through the World Bank data for the previous post, I noticed Greece.

greece-exports-to-gdp

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.

greece-gdp

And here are real exports.

greece-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).

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