Greece2021 Economic Complexity : 0.32, Rank 50 of 131
2021 Product Exports | Imports: $82B | $113B, 44 of 226 | 37 of 226
2021 Per Capita Product Exports | Imports: $7.69k | $10.6k, 39 of 219 | 28 of 219
2020 Service Exports | Imports : $25B | $17B, 21 of 65 | 23 of 65
Overview In 2021, Greece was the number 49 economy in the world in terms of GDP (current US$), the number 44 in total exports, the number 37 in total imports, the number 44 economy in terms of GDP per capita (current US$) and the number 50 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Greece are Refined Petroleum ($23.1B), Packaged Medicaments ($5.98B), Aluminium Plating ($1.85B), Raw Cotton ($1.42B), and Cheese ($1.27B), exporting mostly to Italy ($6.8B), Germany ($6.09B), Cyprus ($4.47B), Turkey ($4.44B), and France ($4.31B).
In 2021, Greece was the world's biggest exporter of Preserved Fruits and Nuts ($45.7M)
Imports The top imports of Greece are Crude Petroleum ($19.7B), Refined Petroleum ($6.53B), Petroleum Gas ($4.39B), Packaged Medicaments ($3.63B), and Cars ($2.22B), importing mostly from China ($12.6B), Germany ($9.53B), Iraq ($8.7B), Italy ($8B), and Russia ($6.33B).
Location Greece borders Albania, Bulgaria, North Macedonia, and Turkey by land and Cyprus, Egypt, Italy, and Libya by sea.
The following section uses the most recent trade data from partners of Greece.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2021): Refined Petroleum, $23.1B
Top Destination (2021): Italy, $6.8B
In 2021, Greece exported a total of $82B, making it the number 44 exporter in the world. During the last five reported years the exports of Greece have changed by $53.7B from $28.3B in 2016 to $82B in 2021.
The most recent exports are led by Refined Petroleum ($23.1B), Packaged Medicaments ($5.98B), Aluminium Plating ($1.85B), Raw Cotton ($1.42B), and Cheese ($1.27B). The most common destination for the exports of Greece are Italy ($6.8B), Germany ($6.09B), Cyprus ($4.47B), Turkey ($4.44B), and France ($4.31B).
Greece Exports Services (2020): $25B
Greece Imports Services (2020): $17B
In 2020, Greece exported $25B worth of services. The top services exported by Greece in 2020 were Sea transport ($14.3B), Personal travel ($4.57B), Miscellaneous business, professional, and technical services ($1.92B), Air transport ($887M), and Other transport ($561M).
The top services imported by Greece in 2020 were Sea transport ($7.85B), Other transport ($2.7B), Miscellaneous business, professional, and technical services ($1.45B), Freight insurance ($608M), and Air transport ($596M).
Greece has a high level of specialization in Olive Oil (35.4), Pure Olive Oil (31.3), Copper Pipes (30.4), Other Processed Vegetables (22.7), and Pickled Foods (20.3). 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 Textile Processing Machines (1.3), Self-adhesive Plastics (1.22), Amino-resins (1.15), Other Heating Machinery (1.14), and Sound Recordings (1.11). 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, were Tropical Fruits (0.31), Gold (0.3), Raw Sugar (0.3), Legumes (0.3), and Locust beans, seaweed, sugar beet, cane, for food (0.3). 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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Greece's economy has become relatively less complex, moving from the 42nd to the 50th 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.
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