Greece and Cyprus must invest on shipping potential

After six years of recession Greece and Cyprus’ economies have remained alive and sustainable mainly due to the countries’ shipping potential which contributes immensely to the growth of the tw o economies.
As it’s known in 2014 despite the persisting economic crisis, the Greek economy’s foreign exchange earnings from shipping slightly increased to euro 13,183.10 million compared to euro 12,089.90 million in 2013, i.e. an increase of 9.04% while shipping provided 192.000 jobs directly or indirectly on ships and ashore in the maritime cluster .
The Greek owned fleet accounted for 4.057 v essels of 314,45 million dwt, representing more than 17% of the total world dwt. The Greek flag fleet r anks seventh internationally and second in the EU. The Greek owned fleet under EU flags accounts for 46,48% of the EU dwt tonnage.
Full article, ELNAVI, September 2015, Issue 501, Page. 8

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