Greece2019 Economic Complexity: 0.38, Rank 52 of 157
2019 Product Exports | Imports: $37B | $62.5B, 58 of 225 | 46 of 225
2019 Per Capita Product Exports | Imports: $3.46k | $5.83k, 57 of 219 | 40 of 219
2016 Service Exports | Imports : $27B | $10.4B, 39 of 152 | 53 of 152
Overview: In 2019 Greece was the number 50 economy in the world in terms of GDP (current US$), the number 58 in total exports, the number 46 in total imports, the number 47 economy in terms of GDP per capita (current US$) and the number 52 most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of Greece are Refined Petroleum ($10.1B), Packaged Medicaments ($2.28B), Aluminium Plating ($690M), Computers ($594M), and Raw Cotton ($589M), exporting mostly to Italy ($3.67B), Germany ($2.46B), Turkey ($2.02B), Cyprus ($1.96B), and Bulgaria ($1.68B).
Imports: The top imports of Greece are Crude Petroleum ($9.39B), Refined Petroleum ($3.85B), Packaged Medicaments ($2.11B), Cars ($1.68B), and Passenger and Cargo Ships ($1.52B), importing mostly from Germany ($6.59B), China ($5.55B), Italy ($5.21B), Iraq ($4.58B), and Russia ($4.05B).
Location: Greece borders Albania, Bulgaria, North Macedonia, and Turkey by land and Cyprus, Egypt, Italy, and Libya by sea.
Top Export (2019): Refined Petroleum, $10.1B
Top Destination (2019): Italy, $3.67B
In 2019, Greece exported a total of $37B, making it the number 58 exporter in the world. During the last five reported years the exports of Greece have changed by $2.13B from $34.9B in 2014 to $37B in 2019.
The most recent exports are led by Refined Petroleum ($10.1B), Packaged Medicaments ($2.28B), Aluminium Plating ($690M), Computers ($594M), and Raw Cotton ($589M). The most common destination for the exports of Greece are Italy ($3.67B), Germany ($2.46B), Turkey ($2.02B), Cyprus ($1.96B), and Bulgaria ($1.68B).
Top Import (2019): Crude Petroleum, $9.39B
Top Origin (2019): Germany, $6.59B
In 2019 Greece imported $62.5B, making it the number 46 trade destination in the world. During the last five reported years the imports of Greece changed by $2.84B from $59.7B in 2014 to $62.5B in 2019.
The most recent imports of Greece are led by Crude Petroleum ($9.39B), Refined Petroleum ($3.85B), Packaged Medicaments ($2.11B), Cars ($1.68B), and Passenger and Cargo Ships ($1.52B). The most common import partners for Greece are Germany ($6.59B), China ($5.55B), Italy ($5.21B), Iraq ($4.58B), and Russia ($4.05B).
Greece Exports Services (2016): $27B
Greece Imports Services (2016): $10.4B
In 2016, Greece exported $27B worth of services. The top services exported by Greece in 2016 were Personal travel ($13.7B), Sea transport ($6.41B), Air transport ($1.74B), Miscellaneous business, professional, and technical services ($1.62B), and Business travel ($886M).
The top services imported by Greece in 2016 were Other transport ($2.21B), Sea transport ($1.45B), Air transport ($1.24B), Personal travel ($1.21B), and Business travel ($1.01B).
The top product import tariffs by their MFN Ad Valorem value for Greece are Sugar beet (178%) and Whey (173%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Greece are:
During the last 20 years Greece's economy has become relatively less complex, moving from the 48th to the 52nd position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
Greece has a high level of specialization in Asphalt (77.4), Copper Pipes (37.2), Razor Blades (32.1), Furskin Apparel (30.9), and Pure Olive Oil (27.3). Specialization is measured using RCA, an index that takes the ratio between Greece observed and expected exports in each product.
The highest complexity exports of Greece according to the product complexity index (PCI) are Machinery nes, to clean, iron, impregnate textiles (1.27), Amino-resins, pheonolic resins, polyurethanes, primary (1.26), Abrasive cloths, papers etc (including sandpaper) (1.18), Machinery, apparatus, equipment for print preparation (1.14), and Automatic data processing machines (computers) (1.13). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Greece according to the relatedness index, are Tropical Fruits (0.32), Perfume Plants (0.31), Gold (0.31), Bran (0.31), and Crude Petroleum (0.31). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Greece is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
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