Observatory of Economic Complexity

Flag Greece

Econ Complexity (2018): 0.31, Rank 52 of 137

Product Exports (2018): $38.7B, Rank 59 of 222

Exports Per Capita (2018): $3.61k, Rank 153 of 219

Product Imports (2018): $63.5B, Rank 46 of 221

Imports Per Capita (2018): $5.92k, Rank 149 of 219

Service Exports (2016): $27B, Rank 39 of 152

Service Imports (2016): $10.4B, Rank 53 of 152

GDP (2018): $218B, CURRENT US$
Rank 50 of 196

GDP growth (2008 - 2018): -38.5%, CURRENT US$
Rank 194 of 196

GDP PC (2018): $20,324, CURRENT US$
Rank 46 of 196

GDP PC GROWTH (2008 - 2018): -36.5%, CURRENT US$
Rank 192 of 196

About

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Overview: In 2018 Greece was the number 50 economy in the world in terms of GDP (current US$), the number 59 in total exports, the number 46 in total imports, the number 46 economy in terms of GDP per capita (current US$) and the number 52 most complex economy according to the Economic Complexity Index (ECI)

Exports: The top exports of Greece are Refined Petroleum ($12B), Packaged Medicaments ($1.71B), Aluminium Plating ($759M), Pure Olive Oil ($696M), and Computers ($633M), exporting mostly to Italy ($3.83B), Germany ($2.41B), Turkey ($2.4B), Cyprus ($2.01B), and United States ($1.74B).

Imports: The top imports of Greece are Crude Petroleum ($10.8B), Refined Petroleum ($4.32B), Packaged Medicaments ($2.28B), Cars ($1.58B), and Passenger and Cargo Ships ($1.47B), importing mostly from Germany ($6.63B), Italy ($5.31B), Iraq ($4.92B), China ($4.9B), and Russia ($4.1B).

Location: Greece borders Albania, Bulgaria, North Macedonia, and Turkey by land and Cyprus, Egypt, Italy, and Libya by sea.

Product Trade

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Yearly Exports

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Value
Depth

Top Export (2018): Refined Petroleum, $12B

Top Destination (2018): Italy, $3.83B

In 2018, Greece exported a total of $38.7B, making it the number 59 exporter in the world. During the last five reported years the exports of Greece have changed by $4.4B from $34.3B in 2013 to $38.7B in 2018.

The most recent exports are led by Refined Petroleum ($12B), Packaged Medicaments ($1.71B), Aluminium Plating ($759M), Pure Olive Oil ($696M), and Computers ($633M). The most common destination for the exports of Greece are Italy ($3.83B), Germany ($2.41B), Turkey ($2.4B), Cyprus ($2.01B), and United States ($1.74B).

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Yearly Imports

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Value
Depth

Top Import (2018): Crude Petroleum, $10.8B

Top Origin (2018): Germany, $6.63B

In 2018 Greece imported $63.5B, making it the number 46 trade destination in the world. During the last five reported years the imports of Greece changed by $3.29B from $60.2B in 2013 to $63.5B in 2018.

The most recent imports of Greece are led by Crude Petroleum ($10.8B), Refined Petroleum ($4.32B), Packaged Medicaments ($2.28B), Cars ($1.58B), and Passenger and Cargo Ships ($1.47B). The most common import partners for Greece are Germany ($6.63B), Italy ($5.31B), Iraq ($4.92B), China ($4.9B), and Russia ($4.1B).

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Monthly Trade

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Market Growth

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Service Trade

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Service Trade

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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).

Forecasts

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Trade Forecasts

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This section shows forecasts for total product exports and imports for Greece. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs

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Tariffs by Product

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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.

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*The tariffs applied to imports for Greece are:
109: Caribbean Forum (CARIFORUM) - European Union Economic Partnership Agreements (EPA)
119: Customs Union between EU and Turkey
121: Economic Partnership Agreement (EPA) between the EU and the Southern African Development Community (SADC) EPA Group
122: EU preferential tariff for sugar producing countries
123: European Union Generalized System of Preference
124: European Union GSP for Least Developed Countries
136: Most Favoured Nation duty rate treatement
160: Preferential tariff for Albania
161: Preferential tariff for Algeria
162: Preferential tariff for Andorra
172: Preferential tariff for Bosnia and Herzegovina
177: Preferential tariff for Cameroon
181: Preferential tariff for Central American Common Market CACM (Spanish: Mercado Común Centroamericano MCCA) Central American Integration System SICA
182: Preferential tariff for Chile
189: Preferential tariff for Colombia
205: Preferential tariff for Ecuador
206: Preferential tariff for Egypt
209: Preferential tariff for EPA countries
218: Preferential tariff for European Union countries
222: Preferential tariff for Faroe Islands
223: Preferential tariff for Fiji
224: Preferential tariff for for occupied Palestinian territory
226: Preferential tariff for Georgia
227: Preferential tariff for Ghana
238: Preferential tariff for Iceland
239: Preferential tariff for India
244: Preferential tariff for Israel
247: Preferential tariff for Jordan
249: Preferential tariff for Korea, Republic of
255: Preferential tariff for Lebanon
258: Preferential tariff for Liechtenstein
262: Preferential tariff for Macedonia
270: Preferential tariff for Mexico
272: Preferential tariff for Montenegro
273: Preferential tariff for Morocco
281: Preferential tariff for Norway
283: Preferential tariff for Overseas Countries and Territories
284: Preferential tariff for Pakistan
287: Preferential tariff for Papua New Guinea
289: Preferential tariff for Peru
293: Preferential tariff for San Marino
295: Preferential tariff for Selected Eastern and Southern African countries(Madagascar, Mauritius, Seychelles and Zimbabwe)
299: Preferential tariff for Singapore
302: Preferential tariff for South Africa
306: Preferential tariff for Switzerland
308: Preferential tariff for Syria
318: Preferential tariff for the republic of Moldova
321: Preferential tariff for Tunisia
325: Preferential tariff for Ukraine
341: Preferential tariffs for countries benefiting from the special incentive arrangement for sustainable development and good governance

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Greece's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨41st 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.

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Most Specialized Products by RCA Index

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Greece has a high level of specialization in Asphalt (72.8), Olive Oil (63.4), Iron Ingots (44.6), Pure Olive Oil (38.9), and Copper Pipes (37). Specialization is measured using RCA, an index that takes the ratio between Greece observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Greece according to the product complexity index (PCI) are Self-adhesive plates, sheets, film etc of plastic (1.55), Machinery nes, to clean, iron, impregnate textiles (1.35), Amino-resins, pheonolic resins, polyurethanes, primary (1.23), Machinery, apparatus, equipment for print preparation (1.23), and Abrasive cloths, papers etc (including sandpaper) (1.2). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Greece according to the relatedness index, are Tropical Fruits (0.32), Perfume Plants (0.31), Raw Sugar (0.31), Gold (0.3), and Crude Petroleum (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.

Product Space

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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.

Diversification Frontier

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Depth

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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