Greece (GRC) and Russia (RUS) Trade | The Observatory of Economic Complexity

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Greece-Russia Trade: In 2022, Greece exported $157M to Russia. The main products that Greece exported to Russia were Insulated Wire ($32.6M), Raw Tobacco ($19.5M), and Lifting Machinery ($9.88M). Over the past 5 years the exports of Greece to Russia have decreased at an annualized rate of 12.7%, from $310M in 2017 to $157M in 2022.

In 2020, Greece exported services to Russia worth $287M, with Transportation ($247M), Travel ($16.9M), and Other business services ($13.7M) being the largest in terms of value.

Russia-Greece Trade: In 2022, Russia exported $8.74B to Greece. The main products that Russia exported to Greece were Refined Petroleum ($3.96B), Petroleum Gas ($3.76B), and Raw Aluminium ($426M). Over the past 5 years the exports of Russia to Greece have increased at an annualized rate of 19.5%, from $3.59B in 2017 to $8.74B in 2022.

In 2020, Russia exported services to Greece worth $57.8M, with Transportation ($37.5M), Other business services ($9.44M), and Communications services ($4.31M) 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, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Greece exported $157M to Russia. The main products exported from Greece to Russia were Insulated Wire ($32.6M), Raw Tobacco ($19.5M), and Lifting Machinery ($9.88M). During the last 5 years the exports of Greece to Russia have decreased at an annualized rate of 12.7%, from $310M in 2017 to $157M in 2022.

In 2017, Russia exported $8.74B to Greece. The main products exported from Russia to Greece were Refined Petroleum ($3.96B), Petroleum Gas ($3.76B), and Raw Aluminium ($426M). During the last 5 years the exports of Russia to Greece have increased at an annualized rate of 19.5%, from $3.59B in 2022 to $8.74B in 2017.

Exports from Greece () to Russia () (2022)

Exports from Russia () to Greece () (2022)

Latest Data

Trade between Greece () and Russia ()

Greece Exports

Date

Russia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Greece
Top DestinationItaly$5.82B

Russia
Top DestinationChina$101B

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

In 2022, countries that imported more from Greece than Russia included Cyprus ($2.92B), Libya ($1.95B), and Lebanon ($1.78B).

In 2022, countries that imported more from Russia than Greece included China ($101B), India ($40.4B), and Germany ($27.7B).

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

Comparative Advantage Greece - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Greece had a large net trade with Russia in the exports of Machines ($51M), Foodstuffs ($43.3M), and Chemical Products ($20.3M).

During 2017, Russia had a large net trade with Greece in the exports of Mineral Products ($7.94B), Metals ($628M), and Vegetable Products ($75.5M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Greece Russia+$8.25MPackaged Medicaments

Top Product Potential Russia Greece+$343MCrude 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

Rus Year

Grc Year

In 2020, Greece exported services to Russia worth $287M, with Transportation ($247M), Travel ($16.9M), and Other business services ($13.7M) being the largest in terms of value.

In 2020, Russia exported services to Greece worth $57.8M, with Transportation ($37.5M), Other business services ($9.44M), and Communications services ($4.31M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Russia () 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 Russia. This means that a dot/product with the flag of Greece indicates it has a comparative advantage over Russia. Similarly, a dot/product with the flag of Russia indicates it has a comparative advantage over Greece.

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Historical Data

Bilateral Trade by Products

Exports from Greece () to Russia () (2022)

Exports from Russia () to Greece () (2022)

Latest Data

Trade between Greece () and Russia ()

Greece Exports

Russia Exports

Market Competitiveness

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

Comparative Advantage Greece - Russia

Potential Exports

Potential Exports

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Bilateral Service Trade

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

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