Trade

Export – Import of goods

Exports
In 2012, the total value of Greek exports totaled 27,619 million Euros, accounting for 14.2% of Greece’s GDP. Despite the fact that the economic crisis in Greece has continued this year, exports showed a significant increase in volume, up 14%. This increase is largely due to two factors that are directly or indirectly connected with the domestic economic crisis:
• Increase in the competitiveness of Greek products as a result of the reduction of prices and cost of production factors in Greece
• Increasing outward-looking nature of Greek companies through the exploration for new markets, given the recession in the domestic market

Destination Countries (2012)
Exports to the European Union (EU) reached 44% in 2012, highlighting the importance of Greek foreign trade to the EU. In 2012, Greek exports to Turkey, Libya, Lebanon, and China increased.

Main export partners:
• Turkey (11%) 
• Italy (8%)
• Germany (6%)
• Bulgaria (6%)
• Cyprus (5%)
• USA (4%)
• United Kingdom (3%)

Export profile of basic commodities:
• Food and beverages
• Industrial products
• Petroleum products
• Chemical products

Imports
In 2012, imports showed a small increase to 49,161 million Euro, up from 48,417 million Euro in 2011. A determining factor in imports remaining at almost the same levels as the previous year is the restrictive economic policy implemented in 2012 as a result of the economic crisis. 

Countries of origin (2012):
The EU was an important trade partner of Greece for imports in 2012, accounting for 46%.

Main countries:
• Russia (12%)
• Germany (9%)
• Italy (8%)
• Saudi Arabia (5%)
• China (5%)
• Netherlands (5%)
• France (4%)

Import profile of basic commodities:
• Machinery
• Vehicles for transportation
• Fuel
• Chemical products
• Food

Total foreign trade
Total foreign trade (imports and exports) in Greece amounted to 76,780 million Euro in 2012. Although the export of goods is lower than the import of goods, the trade deficit has dropped to lower levels compared with previous years (21.5 billion Euro in 2012 compared with 24.1 billion Euro in 2011). The trade deficit, for the most part, is balanced by the export of services, including shipping, tourism, and financial services.

Export - Import Data*

Greek Exports / Country (in million Euro)

Country

 2012

 2011

 2010

 Turkey    

2.967 

 1.881 

 1.257

 Italy  

 2.117   

 2.279  

 1.957

 Germany   

 1.761   

 1.909   

 1.961

 Bulgaria  

 1.565   

 1.338   

 1.150

 Cyprus   

 1.427   

 1.557   

 1.407

 USA  

 1.030   

 1.276   

 852

 United Kingdom

     860       

 995

 1.003

 FYROM       

829

 565

  391

 Libya       

 786 

 160

 545

 Lebanon     

736

 163 

 223

     France        

673

 694

 664

Others

12.868  

 11.466    

 9.686

  TOTAL

27.619    

 24.283

 21.096


Greek Imports / Country (in million Euro)

 Country

 2012

 2011

 2010

Russia  

 6.011   

 4.891   

4.822

 Germany    

 4.595   

  4.973   

5.451

 Italy   

  4.014   

 4.541  

5.176

 Saudi Arabia

 2.674   

 1.708 

1.170

China    

 2.290 

 2.492   

2.861

Netherlands   

 2.285   

 2.614   

2.653

France  

  2.106  

 2.406 

2.486

South Korea   

 1.879 

 1.048   

1.831

Iraq    

  1.763   

 812

670

Libya      

 1.690   

 316

1.399

Iran  

 1.541   

 2.781   

1.224

Others  

 18.313  

 19.835 

20.744

 TOTAL  

  49.161  

 48.417  

50.487

 

Greek Exports / Sector (in million Euro)  

 

 2012    

 2011

 2010

 Food-Animals

 3.620 

 3.471 

 3.313

  Beverages-Tobacco

 635

 593

 570

 Raw materials apart from fuels  

 1.255 

 989

 1.046

 Mining - Fuels - Lubricants

 10.647 

 7.382

 5.331

  Oils & grease of animal or plant origin

 396 

 358 

 331

 Chemicals 

  2.490 

 2.469 

 2.551

 Industrial products

 3.911 

 4.300 

 3.514

 Machine & Transport Equipment

 2.345 

 2.288 

 2.137

  Others 

 2.320 

 2.433 

 2.303

  TOTAL 

 27.619 

 24.283  

  21.096



Greek Imports / Sector (in million Euro)

 

 2012 

 2011 

 2010

  Food-Animals

 4.998 

 5.363 

 5.105

   Beverages-Tobacco

 504

 573

 697

  Raw materials apart from fuels 

 1.304 

 1.416 

 1.229

 Mining - Fuels - Lubricants

 18.241 

 14.779 

 12.133

 Oils & grease of animal or plant origin

 288

 261

 239

 Chemicals 

 6.560 

 7.203 

 7.520

 Industrial products

 4.595 

 5.176 

 5.425

  Machine & Transport Equipment

 8.526 

 8.692 

 12.030

  Others 

 4.145 

 4.954 

 6.109

TOTAL

 49.161 

 48.417  

 50.487

 
* In 2012, data of external trade were revised and adjusted for the period 2004-2012.

Source: Hellenic Statistical Authority 2013