Forest Products Consumption and Trade Deficit in Greece during the Financial Crisis: A Quantitative Statistical Analysis
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.