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2023
Economic Complexity
Trade 0.4Rank 46 of 132
2022
Economic Complexity
Research 0.71Rank 32 of 140
2023
Product
Exports | Imports $53.3B | $87.2B56 of 226 |  43 of 226
2023
Per Capita Product
Exports | Imports $5.12k | $8.38k62 of 220 |  35 of 220

About

Overview In 2023, Greece was the number 54 economy in the world in terms of GDP (current US$), the number 56 in total exports, the number 43 in total imports, the number 53 economy in terms of GDP per capita (current US$) and the number 46 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Greece are Refined Petroleum ($14.9B), Packaged Medicaments ($3.07B), Pure Olive Oil ($1.35B), Aluminium Plating ($1.08B), and Cheese ($997M), exporting mostly to Italy ($6.21B), Germany ($3.06B), Cyprus ($3.03B), Bulgaria ($2.38B), and United States ($2.12B).

Imports The top imports of Greece are Crude Petroleum ($13.7B), Refined Petroleum ($4.72B), Petroleum Gas ($4.49B), Cars ($3.25B), and Packaged Medicaments ($2.76B), importing mostly from Germany ($8.94B), China ($8.52B), Italy ($6.91B), Iraq ($5.68B), and Netherlands ($5.15B).

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

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

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.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Refined Petroleum$14.9B
Top Destination (2023)Italy$6.21B

In 2023, Greece exported a total of $53.3B, making it the number 56 exporter in the world. During the last five reported years the exports of Greece have changed by $16.4B from $37B in 2018 to $53.3B in 2023.

The most recent exports are led by Refined Petroleum ($14.9B), Packaged Medicaments ($3.07B), Pure Olive Oil ($1.35B), Aluminium Plating ($1.08B), and Cheese ($997M). The most common destination for the exports of Greece are Italy ($6.21B), Germany ($3.06B), Cyprus ($3.03B), Bulgaria ($2.38B), and United States ($2.12B).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
Ukraine$513M (+ 72.6%)
Romania$390M (+ 22.9%)
Cyprus$284M (+ 10.4%)
Fastest Growing Import Markets (2022 - 2023)
Turkmenistan$996M (+ 2.66k%)
Kazakhstan$845M (+ 31.2%)
Italy$780M (+ 12.7%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

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).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)0.4Rank 46 of 132
Economic Complexity (Research)0.71Rank 32 of 140

Most Specialized Products by RCA Index

Greece has a high level of specialization in Olive Oil (72.2), Pure Olive Oil (48), Copper Pipes (31.2), Marble, Travertine and Alabaster (29.3), and Fermented Milk Products (28.7). Specialization is measured using RCA, an index that takes the ratio between Greece observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Greece according to the relatedness index, were Tropical Fruits (0.33), Other Animals (0.31), Gold (0.31), Coffee (0.31), and Fish Fillets (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.

Product Space

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.

Relatedness Space

This network shows the products most related to the production structure of Greece. These are products that tend to be co-exported with the products that Greece exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Greece's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨39th to the 46th⁩ 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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ECI (Trade) Ranking by Country

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