Reuters reported that Greece's metal industry, worth EUR 5 billion a year, will increase sales in 2010 after a slump this year as construction and the world economy gather pace.

National Bank of Greece said in an industry report that base metals sales are seen falling by between 20% and 40% this year, after a worldwide slump in demand led to lower metals prices.

According to National Bank's estimates, but a pickup in Greek construction after a 3 year downturn and rising international metal prices will boost combined sales of steel, aluminium and copper MCU3 by up to 15% next year.

With about half its production sold abroad, Greece's base metals industry accounts for about 15% of total exports, helping the country narrow its wide current account gap that reached almost 15% of GDP last year.

(Sourced from www.reuters.com)