United Kingdom (GBR) and Greece (GRC) Trade

2022

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Exports $952MRnk 50 / 224

2022

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About

United Kingdom-Greece Trade: In 2022, United Kingdom exported $952M to Greece. The main products that United Kingdom exported to Greece were Cars ($91.5M), Hard Liquor ($66.1M), and Gas Turbines ($59.3M). Over the past 5 years the exports of United Kingdom to Greece have decreased at an annualized rate of 5.35%, from $1.25B in 2017 to $952M in 2022.

In 2019, United Kingdom exported services to Greece worth $1.42B, with Transportation ($525M), Financial services ($284M), and Travel ($217M) being the largest in terms of value.

Greece-United Kingdom Trade: In 2022, Greece exported $2.2B to United Kingdom. The main products that Greece exported to United Kingdom were Refined Petroleum ($470M), Packaged Medicaments ($276M), and Insulated Wire ($130M). Over the past 5 years the exports of Greece to United Kingdom have increased at an annualized rate of 12.1%, from $1.24B in 2017 to $2.2B in 2022.

In 2020, Greece exported services to United Kingdom worth $1.9B, with Travel ($865M), Other business services ($349M), and Transportation ($279M) being the largest in terms of value.

Comparison: In 2022, United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B). That same year, Greece ranked 50 in the Economic Complexity Index (ECI 0.33), and 57 in total exports ($55.7B).

Latest Trends

August, 2024

About

Overview In August 2024, United Kingdom exported £53.8M and imported £116M from Greece, resulting in a negative trade balance of £62.3M. Between August 2023 and August 2024 the exports of United Kingdom have decreased by £-353k (-0.65%) from £54.2M to £53.8M, while imports decreased by £-20.2M (-14.8%) from £136M to £116M.

Trade In August 2024, the top exports of United Kingdom to Greece were Raw Aluminium (£3.45M), Hard Liquor (£3.4M), Cars (£3.37M), Scrap Copper (£3.36M), and Pesticides (£1.93M). In August 2024 the top imports of United Kingdom from Greece were Packaged Medicaments (£20.7M), Insulated Wire (£9.78M), Iron Structures (£5.91M), Aluminium Plating (£5.1M), and Commodities not elsewhere specified (£4.74M).

Origins In August 2024 the exports of United Kingdom were mainly from Dover Eurotunnel (£14.1M), London (£6.6M), Avonmouth (£5.93M), Felixstowe (£4.72M), and London Gateway (£3.67M), while imports destinations were mainly Dover (£29.1M), London Gateway (£19.4M), Felixstowe (£16.2M), Eurotunnel (£11.3M), and Liverpool (£8.05M).

Growth In August 2024, the decrease in United Kingdom's year-by-year exports to Greece was explained primarily by an decrease in product exports in Cars (£-5.65M or -62.7%), Washing and Bottling Machines (£-5.53M or -98.7%), and Gas Turbines (£-1.51M or -99%). In August 2024, the decrease in United Kingdom's year-by-year imports from Greece was explained primarily by an decrease in product imports in Refined Petroleum (£-13.8M or -99.7%), Aircraft parts including unmanned craft (£-6.47M or -92.3%), and Copper Pipes (£-2.43M or -35.6%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (August 2023 - August 2024)£-353k(-0.65%)

IMPORT GROWTH (August 2023 - August 2024)£-20.2M(-14.8%)

MAIN EXPORTER (August 2024)Dover Eurotunnel£14.1M

This section shows exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United Kingdom over time.

To check Greece and United Kingdom trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, United Kingdom exported $952M to Greece. The main products exported from United Kingdom to Greece were Cars ($91.5M), Hard Liquor ($66.1M), and Gas Turbines ($59.3M). During the last 5 years the exports of United Kingdom to Greece have decreased at an annualized rate of 5.35%, from $1.25B in 2017 to $952M in 2022.

In 2017, Greece exported $2.2B to United Kingdom. The main products exported from Greece to United Kingdom were Refined Petroleum ($470M), Packaged Medicaments ($276M), and Insulated Wire ($130M). During the last 5 years the exports of Greece to United Kingdom have increased at an annualized rate of 12.1%, from $1.24B in 2022 to $2.2B in 2017.

Exports from United Kingdom () to Greece () (2022)

Exports from Greece () to United Kingdom () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United Kingdom
Top DestinationUnited States$61.8B

Greece
Top DestinationItaly$5.82B

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

In 2022, countries that imported more from United Kingdom than Greece included United States ($61.8B), Netherlands ($41.9B), and Germany ($40.6B).

In 2022, countries that imported more from Greece than United Kingdom included Bulgaria ($3.62B), Cyprus ($2.92B), and Libya ($1.95B).

Difference in imports from Greece () and United Kingdom () (2022)

Comparative Advantage United Kingdom - Greece

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, United Kingdom had a large net trade with Greece in the exports of Machines ($184M), Metals ($159M), and Transportation ($158M).

During 2017, Greece had a large net trade with United Kingdom in the exports of Mineral Products ($541M), Metals ($339M), and Chemical Products ($332M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United Kingdom Greece+$61.7MCars

Top Product Potential Greece United Kingdom+$214MRefined 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

Grc Year

Gbr Year

In 2019, United Kingdom exported services to Greece worth $1.42B, with Transportation ($525M), Financial services ($284M), and Travel ($217M) being the largest in terms of value.

In 2020, Greece exported services to United Kingdom worth $1.9B, with Travel ($865M), Other business services ($349M), and Transportation ($279M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United Kingdom () to Greece () (2019)

Services Exports from Greece () to United Kingdom () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of United Kingdom () and Greece () (2022)

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