Greece is the 61st largest export economy in the world and the 55th most complex economy . Greece exported $30.2B, making it the 61st largest exporter in the world. Greece imported $52.8B, making it the 48th largest importer in the world. The balance of Greece trade has been negative. However, ever since Greece joined the EU and gave up restrictive trading measures, things have started to look up, albeit with still a negative balance. The US remains the largest trade partner of the nation outside of EU members. Greece has been a traditional exporter of food, beverages and textiles. It has most of its trading partners located in the EU with the only notable external trade partner being USA.
Imports to Greece tumbled 14.5 percent from a year earlier to EUR 4.289 billion in June 2019, due to lower purchases from the EU (-11.0 percent) and countries outside the EU (-18.4 percent). Imports in Greece averaged 4003.75 EUR Million from 2001 until 2019, reaching an all time high of 6219.50 EUR Million in June of 2008 and a record low of 1919 EUR Million in August of 2001.
Imports in Greece is expected to be 4250.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Greece to stand at 4340.00 in 12 months time. In the long-term, the Greece Imports is projected to trend around 4750.00 EUR Million in 2020.
Greece main imports are crude oil (15 percent of total imports), ships, boats and floating structures (6 percent), petroleum products (6 percent), medicament (5 percent), motor vehicles (2 percent) and natural gas (2 percent). Main import partners are: Germany (11 percent of total imports), Italy (8 percent), Russia (7 percent), South Korea (6 percent) and Iraq (6 percent).
Exports from Greece declined 9.0 percent from a year earlier to EUR 2.762 billion in June 2019, as sales fell to the EU (-1.4 percent) and countries outside the EU (-18.1 percent). Exports in Greece averaged 1802.48 EUR Million from 2001 until 2019, reaching an all time high of 3151.30 EUR Million in October of 2018 and a record low of 691.90 EUR Million in August of 2002.
Exports in Greece is expected to be 2870.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Greece to stand at 2850.00 in 12 months time. In the long-term, the Greece Exports is projected to trend around 3240.00 EUR Million in 2020.
Greece main exports are petroleum products (29 percent of the total exports), aluminium (5 percent), medicament (4 percent), fruits and nuts, fresh or dried (3 percent), vegetables, prepared or preserved (2 percent) and fish, fresh or frozen (2 percent). Main export partners are: Italy (11 percent of total exports); Germany (7 percent); Turkey (7 percent); Cyprus (6 percent); and Bulgaria (5 percent).
