TITLE:
Forest Products Consumption and Trade Deficit in Greece during the Financial Crisis: A Quantitative Statistical Analysis
AUTHORS:
Panagiotis Koulelis
KEYWORDS:
Greek Forest Sector, Consumption, Forest Products, Deficit, Correlation
JOURNAL NAME:
Open Journal of Business and Management,
Vol.4 No.2,
April
21,
2016
ABSTRACT: During the economic crisis in Greece, the national forest sector wounded by a serious decline in
demand. The national forest sector faced an important decline in forest products consumption.
The paper examines the quantitative changes in the above consumption regarding several wood
products categories. The results indicated that a very important decline in consumption per capita
took place after 2008. Moreover, an unwanted positive relationship between GDP and the forest
products trade deficit is confirmed. During the crisis, the continuant reduction of GDP brings reduction
on deficit in trade of forest products while an important increase of exports occurs. However,
the results also show that policy makers must act immediately in order to stop the total collapse
of the sector.