Grècia: Visió econòmica i política
Greece has an export-oriented economy, with trade representing 89% of GDP (World Bank, latest data available). According to data by the Hellenic Statistical Authority, fuel had the largest share of exports for 2021 (28.2%) followed by raw material (15.6%), food products (14.8%) and chemicals (14.2%). As per imports, fuel had the lion’s share of imports (26.4%) followed by transport material and machinery (19.2%) and chemicals (17.0%).
Over the course of 2021, exports to the European Union accounted for 53.7% of the total. The main trading partners were Italy (10.6%), Germany (7.8%), Cyprus (6.4%), Turkey (5.8%) and Bulgaria (5%). Concerning imports, Germany was the main trading partner (12.4%), followed by Italy (9%), China (7.7%), Russia (6.3%) and Iraq (6%). Overall, the EU accounted for 51.2% of total imports (Hellenic Statistical Authority).
Data by WTO shows that in 2021 exports of goods reached USD 47.1 billion, marking a 34.1% increase year-on-year; whereas imports stood at EUR 75.8 billion (+36.2% y-o-y). As per services, exports totalled USD 41.4 billion against USD 26 billion of imports (+60.4% and +49.6% year-on-year, respectively). The World Bank estimated the country’s trade deficit at 7.7% of GDP in 2021, the same level as the previous year. The latest figures from the Hellenic Statistical Authority show that the total value of imports for the 10-month period from January to October 2022 amounted to EUR 45.3 billion (+39.7% y-o-y), while exports stood at EUR 76.7 billion (+48.4% y-o-y). In the same period, the deficit of the trade balance reached EUR 31.3 billion, up by 63.2% over the year.
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 54,291 | 63,877 | 62,510 | 55,691 | 75,855 |
Exports of Goods (million USD) | 32,645 | 39,502 | 37,907 | 35,169 | 47,170 |
Imports of Services (million USD) | 17,442 | 20,896 | 21,113 | 17,401 | 26,033 |
Exports of Services (million USD) | 37,768 | 43,729 | 44,807 | 25,809 | 41,397 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 71.6 | 80.2 | 81.9 | 71.7 | 89.5 |
Trade Balance (million USD) | -22,389 | -26,532 | -25,572 | -21,135 | -31,224 |
Trade Balance (Including Service) (million USD) | -1,656 | -3,935 | -2,008 | -12,737 | -16,011 |
Imports of Goods and Services (Annual % Change) | 7.4 | 8.1 | 2.9 | -7.3 | 17.7 |
Exports of Goods and Services (Annual % Change) | 8.5 | 9.1 | 4.9 | -21.5 | 24.1 |
Imports of Goods and Services (in % of GDP) | 36.5 | 41.2 | 41.8 | 39.7 | 48.6 |
Exports of Goods and Services (in % of GDP) | 35.0 | 39.0 | 40.1 | 32.0 | 40.9 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 14.9 | 3.0 | 4.0 | 3.8 | 3.3 |
Volume of imports of goods and services (Annual % change) | 8.6 | 1.8 | 2.1 | 2.2 | 2.1 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2022 |
Italy | 10.4% |
Bulgaria | 7.7% |
Germany | 6.3% |
Cyprus | 5.5% |
Türkiye | 4.6% |
See More Countries | 65.5% |
Main Suppliers (% of Imports) |
2022 |
Russia | 10.0% |
Germany | 8.9% |
China | 8.5% |
Iraq | 7.3% |
Italy | 6.3% |
See More Countries | 59.0% |
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: November 2023