Greek exports on a positive course
Greek exports on a positive course
  Economy  |  Data

Greek exports on a positive course

Exports, for the period January - June 2022, increased by a total of 40% and amounted to 25.69 billion euros.
RE+D magazine

For six more months, Greek companies managed to keep channels open with their customers abroad and remain reliable suppliers despite the obstacles raised by the effects of the war in Ukraine (high inflation, energy crisis, etc.).

This was noted by the Panhellenic Association of Exporters and the Center for Export Research and Studies (KEEM), on the occasion of its analysis of ELSTAT's provisional data.

Exports, for the period January - June 2022, increased by a total of 40% and amounted to 25.69 billion euros. Imports in the same period increased by 51.7%, with their total value reaching 42.64 billion euros. As a result of the above movements, the trade deficit increased by 73.7% and reached -16.95 billion euros in the first half of 2022.

European countries were once again in the spotlight, which traditionally absorb the largest volume of Greek products and services, with Italy continuing to be the most important destination for Greek exports in the first half of 2022, while Germany remains in 2nd place, as well as the corresponding period last year. This is followed by Bulgaria, to which the increase in exports of Greek products (by 85.5%) in the semester of 2022 led to it rising to 3rd from 6th place, and then Cyprus occupying 4th from 3rd place it held. Next is the U.S. which is in the 5th place from the 7th place it held in the first half of 2021, to which a large increase in exports is recorded (58.7%), Turkey and Spain in the 6th and 7th places, for Turkey 1 place more low, and for Spain 4 places higher than the corresponding period last year due to the doubling of exports to Spain. In 8th place is the United Kingdom (from 10th) followed by France, to which there was a decrease in Greek exports (by -14.5%), as a result of which it fell from 4th to 9th place for the first half of 2022. The top ten of the main destinations of Greek exports is completed by Romania, which was in 8th place during the corresponding period of 2021.

Apart from the top ten client countries of Greek products for the first half of 2022, it is worth noting the drop in the ranking of South Korea (25th place from 14th) and China (32nd from 16th) compared to the corresponding period of 2021 and the rise of Malta (19th from 31st) and Liberia (35th from 46th).

The EU 

Regarding the destinations of Greek exports per economic union, there is an increase of 39.7% to the EU.

Shipments to the 18 countries of the Eurozone increased by 35.4%, while exports to almost all economic associations moved upwards with the only exceptions being exports to the BRICS countries (-21.3%), the Eurasian Economic Union (-22 .8%) and the MERCOSUR countries (-1.1%).

In more detail, to the OECD countries, an increase of 35.8% is recorded and to the G7 countries by 34.7%. Exports to the countries of the Black Sea Economic Cooperation (BSEC) increase by 46.1%, while to the countries of the Middle East & North Africa by 42.8%. This is followed by shipments of Greek products to North Africa (38.3%), OPEC countries (44.2%), North America (53%) and the Gulf countries (Gulf Cooperation Council) (38.9%). Finally, exports to the countries of Sub-Saharan Africa, which are smaller in value, increased by 84.5%.