Grècia: Visió econòmica i política
Greece has an export-oriented economy, with trade representing 72% of GDP (World Bank, latest data available). Petroleum products account for both imported and exported items as the country imports crude oil and exports refined products. Medicine, fish and olive oil are among the most exported items. Medicines account for a significant share of imports (4.4%), followed by motor cars.
Trade with EU countries accounts for half of imports and exports. Italy and Germany are Greece's main trading partners with Italy being the top destination for Greek exports (10.5%) and Germany being the main supplier of goods and services (11.9%). Italy (8.3%), China (7.7%) and the Netherlands (6.1%) are the other major suppliers.
Structurally in deficit, the trade balance improved between 2009 and 2016 as imports declined faster than exports. In 2020, exports of goods totalled USD 35.1 billion (-7.4% y-o-y) as imports declined at a faster pace (-10.8% - at USD 55.7 billion). In the same year, exports of services stood at USD 25.8 billion, marking a 42.8% drop, with imports decreasing marginally (-17.5% - at USD 17.4 billion). The World Bank estimates the country’s trade deficit at 7.6% of GDP in 2020, up from a level of 1.7% one year earlier. The latest figures from the Hellenic Statistical Authority show that the total value of imports for the 10-month period from January to October 2021 amounted to USD 60.8 billion (+27% y-o-y), while exports stood at USD 38.7 billion (+29% y-o-y).
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) | 10.1 | 3.2 | 3.7 | 3.3 | 3.2 |
Volume of imports of goods and services (Annual % change) | 8.4 | 1.2 | 3.7 | 2.0 | 1.7 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2021 |
Italy | 9.8% |
Germany | 7.2% |
Cyprus | 5.9% |
Türkiye | 5.2% |
Bulgaria | 4.7% |
See More Countries | 67.4% |
Main Suppliers (% of Imports) |
2021 |
Germany | 10.6% |
Italy | 8.0% |
China | 7.8% |
Russia | 6.7% |
Iraq | 6.4% |
See More Countries | 60.4% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. 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: January 2023