Greece (GRC) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Greece-Italy Trade: In 2022, Greece exported $5.82B to Italy. The main products that Greece exported to Italy were Refined Petroleum ($957M), Pure Olive Oil ($525M), and Raw Aluminium ($338M). Over the past 5 years the exports of Greece to Italy have increased at an annualized rate of 12.7%, from $3.2B in 2017 to $5.82B in 2022.

In 2020, Greece exported services to Italy worth $752M, with Transportation ($329M), Travel ($249M), and Other business services ($82.4M) being the largest in terms of value.

Italy-Greece Trade: In 2022, Italy exported $6.73B to Greece. The main products that Italy exported to Greece were Refined Petroleum ($335M), Packaged Medicaments ($318M), and Electricity ($191M). Over the past 5 years the exports of Italy to Greece have increased at an annualized rate of 8.32%, from $4.51B in 2017 to $6.73B in 2022.

In 2020, Italy exported services to Greece worth $449M, with Transportation ($130M), Other business services ($122M), and Travel ($58M) being the largest in terms of value.

Comparison: In 2022, Greece ranked 50 in the Economic Complexity Index (ECI 0.33), and 57 in total exports ($55.7B). That same year, Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Greece exported $5.82B to Italy. The main products exported from Greece to Italy were Refined Petroleum ($957M), Pure Olive Oil ($525M), and Raw Aluminium ($338M). During the last 5 years the exports of Greece to Italy have increased at an annualized rate of 12.7%, from $3.2B in 2017 to $5.82B in 2022.

In 2017, Italy exported $6.73B to Greece. The main products exported from Italy to Greece were Refined Petroleum ($335M), Packaged Medicaments ($318M), and Electricity ($191M). During the last 5 years the exports of Italy to Greece have increased at an annualized rate of 8.32%, from $4.51B in 2022 to $6.73B in 2017.

Exports from Greece () to Italy () (2022)

Exports from Italy () to Greece () (2022)

Latest Data

Trade between Greece () and Italy ()

Greece Exports

Date

Italy Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Greece
Top DestinationItaly$5.82B

Italy
Top DestinationGermany$78.5B

This map shows whether countries import more from Greece or Italy. Each country is colored based on the difference in imports they receive from Greece and Italy or the difference in the growth in imports.

In 2022, countries that imported more from Greece than Italy included Cyprus ($2.92B), North Macedonia ($1.7B), and Lebanon ($1.78B).

In 2022, countries that imported more from Italy than Greece included Germany ($78.5B), United States ($68.2B), and France ($63.8B).

Difference in imports from Italy () and Greece () (2022)

Comparative Advantage Greece - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Greece and Italy by product, considering products traded by both, Greece and Italy.

During 2022, Greece had a large net trade with Italy in the exports of Mineral Products ($1.19B), Metals ($851M), and Machines ($660M).

During 2017, Italy had a large net trade with Greece in the exports of Machines ($1.19B), Chemical Products ($893M), and Mineral Products ($621M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Greece Italy+$147MRefined Petroleum

Top Product Potential Italy Greece+$96.4MRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

Ita Year

Grc Year

In 2020, Greece exported services to Italy worth $752M, with Transportation ($329M), Travel ($249M), and Other business services ($82.4M) being the largest in terms of value.

In 2020, Italy exported services to Greece worth $449M, with Transportation ($130M), Other business services ($122M), and Travel ($58M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Greece () to Italy () (2020)

Services Exports from Italy () to Greece () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Greece and Italy. This means that a dot/product with the flag of Greece indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Greece.

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Historical Data

Bilateral Trade by Products

Exports from Greece () to Italy () (2022)

Exports from Italy () to Greece () (2022)

Latest Data

Trade between Greece () and Italy ()

Greece Exports

Italy Exports

Market Competitiveness

Difference in imports from Italy () and Greece () (2022)

Comparative Advantage Greece - Italy

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Greece () to Italy () (2020)

Services Exports from Italy () to Greece () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Greece () and Italy () (2022)

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