Greece Top Import And Exports

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Greece is the world's 63rd largest exporter, and its economy is the world's 54th most complex, according to the Economic Complexity Index. 

Greece is a developed European country with an economy based on the service and industrial sectors. 

Greece joined the European Union's Economic and Monetary Union in 2000. 

In 2014, the country's exports totaled approximately 33.2 billion dollars. 

Greece is the world's 48th largest importer, with 60.8 billion dollars in annual imports in 2014. 

From 2009 to 2014, the value of imports decreased at an annual rate of minus 2.1 percent, while the value of exports increased at an annual rate of 8.8 percent. 

Greece is ranked 138th in the world in terms of economic freedom and 86th in terms of global competitiveness. 

In 2014, the country's GDP was 235 billion dollars, with a GDP per capita of 26.9 thousand dollars.

Greece Economy Overview

Greece has the world's 50th largest economy, with a GDP of 218 billion dollars. 

However, because imports outnumber exports, the country has a minus 24.8 billion dollars negative trade balance. 

Imports total 63.5 billion dollars per year, while exports total 38.7 billion dollars.

Greece is ranked number 52 on the Economic Complexity Index. 

Italy and Germany are the country's two most important trading partners.

Greece’s Top 10 Imports

Greece imported 55.5 billion dollars in goods from around the world in 2020, an increase of 16.6 percent since 2016, but a decrease of minus 10.7 percent from 2019 to 2020.

Greece uses the euro, which has appreciated by 2 percent against the US dollar since 2016 and increased by 3.1 percent from 2019 to 2020, based on the average exchange rate for 2020. 

When converted from euros, the stronger EU currency in 2020 made Greece's imports paid for in weaker US dollars 2020 relatively less expensive.

Using a continental perspective, 62.7 percent of Greece's total imports by value came from other European countries. 

Asian trading partners supplied 24.7 percent of Greece's total import purchases. 

Africa with 3.7 percent, North America with 2.2 percent, Latin America with 1.3 percent excluding Mexico but including the Caribbean, and Oceania with 0.1 percent, led by New Zealand and Australia, received lower percentages.

With a population of 10.7 million people, Greece's total of 55.5 billion dollars in 2020 imported goods equates to roughly 5,200 dollars in annual product demand from every person in the southern European country.

During 2020, the following product groups have the highest dollar value in Greece's import purchases. 

The percentage share of each product category in terms of total imports into Greece is also shown.

Mineral fuels, including oil, are worth 11 billion dollars which accounts for 19.8 percent of total imports

4.5 billion dollars for machinery, including computers, accounts for 8.1 percent 

3.8 billion dollars for electrical machinery and equipment accounts for 6.9 percent 

3.5 billion dollars in pharmaceuticals account for 6.4 percent 

3.3 billion dollars for organic chemicals account for 5.9 percent 

2.6 billion dollars for automobiles account for 4.6 percent 

Plastics and plastic products account for 2.1 billion dollars account for 3.9 percent 

Optical, technical, and medical equipment valued at 1.3 billion dollars account for 2.3 percent 

1.2 billion dollars for meat account for 2.2 percent

1.1 billion for iron and steel stands at 2 percent

Greece's top ten imports accounted for 62.1 percent of the total value of its foreign product purchases.

Organic chemicals went up by 55.1 percent from 2019 to 2020, pharmaceuticals came up by 15 percent, and optical, technical, and medical apparatus were the top three purchase increases from 2019 to 2020 up by 13.3 percent.

The most severe drop was a minus 34.1 percent year-on-year drop in the mineral fuels including the oil category.

Greece’s Top 10 Exports

The Hellenic Republic, also known as Greece, is a strategic crossroads for Europe, Asia, and Africa. In 2020, the Hellenic Republic shipped 35.1 billion dollars in goods around the world. 

This figure represents a 26.2 percent increase over 2016, but a minus 7.4 percent decrease from 2019 to 2020.

Greece uses the euro, which has appreciated by 2 percent against the US dollar since 2016 and increased by 3.1 percent from 2019 to 2020, based on the average exchange rate for 2020. 

In 2020, Greece's exports paid for in weaker US dollars were relatively more expensive for international buyers than in 2019.

According to the most recent country-specific data, importers in Italy accounted for 10.6 percent of the global total, Germany for 7.8 percent, Cyprus for 6.5 percent, France with 5.8 percent, Bulgaria for 5 percent, Turkey with 4.4 percent, the United Kingdom with 3.9 percent, Spain with 3.7 percent, the United States with 3.7 percent, Romania with 3.6 percent, China with 2.8 percent, and the Netherlands purchased 59.9 percent of products exported from Greece.

In terms of value, 69.5 percent of Greece's exports were delivered to other European countries, while 17.4 percent were sold to Asian importers. 

Greece sent another 6.2 percent of its exports to Africa. 

Smaller percentages of 4.7 percent went to North America, Oceania got 1.1 percent, led by Australia and the Marshall Islands, and Latin America excluding Mexico but including the Caribbean with 1 percent.

With a population of 10.7 million people, Greece's total 35.1 billion dollars in 2020 exports equates to roughly 3,300 dollars for each resident of the southern European country.

The export product groups listed below have the highest dollar value in Greek global shipments in 2020. 

The percentage share of each export category in terms of total Greek exports is also shown.

Mineral fuels, including oil, cost 7.7 billion dollars which accounts for 21.9 percent of total exports

3.3 billion dollars in pharmaceuticals account for 9.4 percent 

2 billion dollars on machinery, including computers, accounts for 5.6 percent

1.8 billion dollars for aluminum accounts for 5.3 percent 

1.4 billion dollars for electrical machinery and equipment account for 4 percent 

1.3 billion dollars for vegetable, fruit, or nut preparations account for 3.8 percent 

Plastics and plastic products: 1.3 billion dollars account for 3.8 percent

1.3 billion dollars for fruits and nuts account for 3.7 percent

922.2 million dollars in dairy, eggs, and honey account for 2.6 percent 

831.3 million dollars for fish accounts for 2.4 percent 

Greece's top ten exports accounted for 62.4 percent of its total global shipments.

Pharmaceuticals are the fastest growing of the top ten export categories, with a 52.1 percent increase since 2019. 

Fruits and nuts came in second place for increasing export sales, with a 21 percent increase. 

Greece's shipments of dairy, eggs, and honey experienced the third-fastest increase in value, increasing by 18.9 percent.

Mineral fuels, including oil, were the biggest loser among Greece's top ten export categories, falling 35.7 percent year on year.

In terms of macroeconomics, Greece's total exported goods account for 11.3 percent of its overall GDP in 2020 valued at 310.7 billion dollars in Purchasing Power Parity US dollars. 

In 2020, exports will account for 11.3 percent of total GDP in PPP terms, up from 11.7 percent the previous year. 

This suggests, albeit in a very short timeframe, that Greece's total economic performance is becoming less reliant on products sold on international markets.

The unemployment rate is another important indicator of a country's economic performance. 

According to the International Monetary Fund, Greece's unemployment rate in November 2020 was 19.3 percent, compared to an average of 17.802 percent in 2019.

Sources : 

https://www.worldatlas.com/articles/greece-exports-and-import.html

https://commodity.com/data/greece/

https://www.worldstopexports.com/greeces-top-10-exports/

https://www.worldstopexports.com/greeces-top-10-imports/

 

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